1. Describe a bearish price and volume pattern, and discuss why it is considered bearish.
2. Discuss the logic behind the breadth of market index. How is it used to identify a peak in stock prices?
3. During a 10-day trading period, the cumulative net advance index goes from 1,572 to 1,053. During this same period of time, the DJIA goes from 11,200 to 12,100. As a tech- nician, discuss what this set of events would mean to you.