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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 subsequently trended down. On Friday, the SPY's volume was slightly ABOVE its resistance line again ... but note that it is not rising or falling, but going sideways. (The SPY's Volume is NOT shooting up like past instances and is meandering sideways. This is not the same profile of the past conditions yet.) The NYA Volume was below its blue resistance line on Friday, sot this remains a positive condition.
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. Liquidity inflows had another up tick again while in extreme high territory.
Chart C: Institutional Accumulation/Distribution
The Institutional Investors shifted to increasing Accumulation with the Buy/Sell spread increasing . Institutional buying increased, and Institutional selling decreased.
*** Conclusion: Conditions elevated to a higher positive on Friday.
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狗仔卡
发表于 2009-8-24 08:10 AM
发表于 2009-8-24 08:13 AM
