Once again, volume (lack of) made buying breakouts and selling breakdowns treacherous especially after the inside day yesterday, which usually signals a directional day to follow. SPY had an accumulation day in volume although still well under the daily average. …
Inside day in all indexes including in a couple of sectors/groups IYT (Transportation) and EWZ (Brazil). SPY QQQ etc all had lower volume so no troubling patterns there. Generally, traders follow the range break of an inside day.
The leaders …
Now 5th Accumulation day in volume in QQQ. It also tested the 200 DMA and held. SPY managed an accumulation as well and since Friday, with an upward sloping moving average and overbought corrections, signaled the correction was coming, although …
The QQQ worked off an overbought condition on a 2-day RSI and dropped on very light volume. No distribution day, thereby keeping the 4 accumulation days of volume over the last 2 weeks intact, with an upward sloping 50 DMA …
Slope in the 50 Day Moving Average in SPY finally turned positive just as the 2-Day RSI closes in on overbought. QQQ cleared the summer/fall range, posted a fourth accumulation day in volume and has gone beyond overbought on the …
Overall, if this was a correction, not too severe, especially considering how well AAPL AMZN CELGand IBM did-3 leaders. Of course, lots of small tech stocks rallied, but look at what needed to lead and did-SMH, XLK, IBB. And look …
QQQ overbought and could not soar through September high 57.35. Definitely the top of the summer/fall range, but with QQQ and SPY both having an accumulation in volume, market searching for other clues as well. CELG failed the 2010 high …
Lots of stocks with inside days after a day of digestion on super low volume around critical levels. Note that QQQ did get an Accumulation day in volume although considerably under the average daily. Once again, some weaker sectors/groups and …
A US bank holiday typically results in low volume. The return of the Asian Market and some good news coming from Europe certainly helped a lot. But what about price, phase and slope? Price-The high of the September rally is …
Distribution Day in Volume in 2 key indices SPY and QQQ. However, SPY held the 200 weekly moving average (IWM as well although closed the weakest) making it possible that that the market digested and tested support. After a decent …