Berkshire Hathaway Buying Climax?

One of the stock screens published on Fridays is called Buying and Selling Climaxes. The idea comes from Don Wolanchuk who stated; when a stock makes a new 52 week high and then reverses and closes lower, it is a sign of distribution.  The stock is going from strong hands to weak hands. The reverse would be true for a selling climax.

You may recall that last week, on the fourth to be exact Buffett Loses Last AAA Rating as S&P Cuts Berkshire.  In addition you may or may not be aware that when the deal to purchase Burlington Northern closes BRKB will replace it in the S&P.

Now going back to the buying climax screen, both the class A and class B stock had that weekly reversal off a new high. Here are weekly charts of both classes of stock. Circled is the previous weekly reversal off a new 12 month high for each; notice what followed. Will it happen again?

Of course an interesting exercise for you to do is pull up a daily chart of either or both and see if this weekly reversal may have been caused by the S&P move or would it have happened anyway?

Members wishing to access the screen (In Microsoft Excel Spreadsheet): Click Here!