As many of you know I am a volume freak,whether it's regarding individual stocks or the indexes and there has been poor volume this week. This is a note from Alan Farley, a technician I occasionally read.
Volume has been just pathetic this week, with some of the lowest readings of 2008. This, despite all the happy talk after the post-Bear reversal AND positive seasonality from quarterly window dressing.
The SPDR Trust (SPY) has posted 30 sessions this year in which daily volume has exceeded its 60-day moving average. 20 of these days were selloffs, while just 10 were rallies.
Not one trading day of the last six has posted volume (in either direction) higher than the moving average
0 comments:
Post a Comment