Or, price may auction around the new level ( generally for more than 1 time period ), and has limitless potential in EITHER direction. Stock market Trading, by its very nature, is a private thing. They also came to the realization that market participators fell into one of 2 timeframes, i.e everybody trading was either interested only in today ( pit traders, day traders ) or 'longer' ( stock traders, buy and hold traders etc ). Apparently most markets spend the vast majority of their time in a trendless state, despite the opinions of the general public.The S&P 500, for example, spends as much as 65 % of its time wobbling randomly up and back down. A great part of the method of learning to trade involves experiencing the very varied eventualities the markets throw at us, and developing reactions to deal with them. A good methodology is objective, leaving only a little room for your human feelings to get in the way.
P Fisher