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这么小的空，应该会补啦。
Chart A: Daily Volume trending on the SPY
Some of the Institutional investors were concerned about the dropping volume as the market rallied. This first chart below, show's the SPY and its volume with a 14 day simple moving average. During this bear market, there were 6 occasions where the volume's 14 SMA moved down and then broke a resistance line to the upside. On all 6 occasions, the SPY went lower afterwards.
Today: As you can see on the chart, the SPY started trending up in March, and its 14 day SMA shows that the volume has been down trending since. There was no confirmation from the NYA Down Volume on Friday, but it was testing the resistance for the second time raising the downside risks to a higher level. Yesterday, the SPY's volume was ABOVE its resistance line again ... that increased risk level was apparent with the NYA's Down Volume rising above its blue resistance line. This is a short term down condition from this model.
Chart B: Liquidity Inflows and Outflows
Liquidity inflows are critical to the market's action. If indicators are weakening while Liquidity is flowing in, then the liquidity inflow will take precedence and hold the market up. Yesterday, Liquidity inflows had a fairly sharp down tick while in high territory.
Chart C: Institutional Accumulation/Distribution
Yesterday: The Institutional Investors remained in Accumulation with the Buy/Sell spread decreasing again. Institutional buying decreased, and Institutional selling increased.
Additional Explanation today: I want to make a comment here, because there is an Institutional "trick" that they play. The trick is that when the market reaches a level that Institutions feel is high enough for them, they continually decrease their buying while at the same time, they pull back on selling. By letting the smaller players do the buying and not selling into them, they allow the market to move up and enhance their profits. Over time, a decrease in buying and a change to an increase in selling brings the two to a point where they are converging on each other and the Institutions get ready to go into distribution. At that point the market has a correction.
*** Conclusion: Same as yesterday ... Overall, conditions are showing increased stress, so risks levels are also increasing.
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狗仔卡
发表于 2009-8-18 08:02 AM
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
发表于 2009-8-18 08:03 AM
老大早
63):
发表于 2009-8-18 08:25 AM
