Custom Search

Tuesday, June 9, 2009

Running out of Volume

The S&P 500 (SPX) is sitting on support around 930, but below the 200 day EMA (green line). Despite some days consolidating in this range, SPX is still overbought. Volume is also dropping off rather quickly.

Primary Market Total Volume (NYTV) is generally declining, even as the market rallies. The volume decline has now really started to accelerate. It would appear that the market is now rising on fumes... an example of which would be yesterday's late day jam job. These are done on low volume and are all about fixing a closing price.

Yesterday's candle is definite sign of indecision and is the fourth consecutive failure to close above the 200 day EMA. Until the Non-Farm Friday opening print high of 951 is cleared, it looks like this monstrous rally may finally be running out of steam.


wunsacon said...

Dr. Bernankestein keeps jolting the market to keep it alive. "More powwwer!" ... Cue the organ music!!

Anonymous said...

The asymmetric lightning bolt for the brand new Nike soccer cleats Mercurial Vapor VII is slightly toned down, in that it's coloured Volt to games the huge majority color of those New nike soccer shoes. The heel place and instep are coloured Retro, along using the all round Nike mercurial soccer cleats design can be to place gamers using the spotlight.
The Nike Mercurial Superfly Tepex glass-fibre chassis, which has develop to be considered a Mercurial Vapor Superfly favourite and appears especially awesome using the SG edition, gives you near for that Mercurial Vapors enhanced traction elements. The Nike Football Cleats Vapor Traction II design suggests the forefoot FG studs are shaped to provide Nike Mercurial Vapor Superfly multi-directional traction, with middle arms for acceleration/deceleration and Mercurial Vapor Superfly 3 optimal sprint traction.