The modest amount of accumulation from Monday’s session is starting to lose steam according to volume. The market has now logged 4 straight days of a high up to down-volume ratio (as shown by the Heat Gauge reading below zero), but on 3 of those days, including today, overall volume has withered down (and anyone…
Through a host of elusive external forces, (which we can only assume begin with Greece, China and the Fed) the bears managed to pile enough weight on the scale to send the Heat Gauge soaring up to a burning +92. It was a pretty hot day, even for July, but overall volume withered downward in…
The Greek decision to reject austerity was wholeheartedly rejected by the market today, but the hit was not as much as some folks thought it would be. So was the vote already priced in or is more selling to come? When looking from a volume perspective the answer would likely be yes and yes. The…
If the market did indeed rally on “Greek hopes” today, then the new-found optimism is really just casting a shadow over what turned out to be a low volume day filled with doubt and fear. To be fair to the bulls, we are coming off of Friday’s triple witching, which may have fed the volume…
SPY ex-dividend (yes, I first thought WTH when I saw the chart) and options expiration both sure managed to stir things up on the volume scale last Friday. The Heat Gauge shot up to a moderately warm +49, while overall volume significantly increased, which is not surprising considering the effect of triple witching… But what…
The market’s triumphant comeback today (which rose “despite the news from Greece”), was really quite lackluster in the volume department. With the HG at -2 on declining overall volume, the bulls can’t exactly lay claim to this session as their long-awaited confirmation day. For SPY it would seem that the rally served as just another…
It’s interesting how folks always breathe a sigh of relief whenever an index or ETF “holds the 50 day MA” (like SPY did today), when in actuality (like the last 6 or 7 times) only if there’s a decisive break below the magic line do things change direction and move upward… just some food for…
The market bounced up and down like a superball last Friday, as investors reportedly couldn’t make up their minds about what to expect from the weekend Greece meeting. The volume stats on the other hand are showing that many folks were decidedly running for the exits as the heat gauge rose up to +47 along…
Markets hung in there today with SPY consolidating in a tight 1 point range near the highs, digesting yesterday’s swift comeback move. Things did heat up quite a bit volume-wise as the HG climbed up again all the way to +22, but this time overall volume took a breather. The ebb and flow of advancing…
In just a week’s time SPY has gone from the brink of the abyss below the 50 dma to just a mere stones throw away from 213. But the star of the show today in terms of volume was the NASDAQ, logging more than double the up-volume over down, pushing the HG to -3. The…
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