Wednesday, September 9, 2009

SPY Rising While SPY Volume Declines

In May of 2008 I showed how 3 higher closes in the SPX (while under to 200ma) had different implications depending on the volume pattern. Tuesday we had this 3-higher closes pattern appear in the SPY while SPY volume declined all three days. This is a slightly different twist and one worth examining:

(click table to enlarge)

This setup appears especially bearish over the 1st week. Possible bearish implications extend out much further than just a week, though.

Would you like to be made aware any time this setup triggers in the future? The Quantifinder does it for you! Versions of the Quantifinder are available with both gold and silver subscriptions.
As I ready to publish this I see that Cobra also noticed this pattern last night. Check out his take as he identifies several recent occurrences on his chart.

1 comment:

Rufus said...

how many occurences around a US holiday I wonder?