The numbers here are fairly compelling, especially considering the studies used a long-term trend filter. Bulls may not want to get overly aggressive in the next few days. Risk appears elevated.
Tuesday, April 5, 2011
Low SPY Volume A Concern
SPY volume came in at the lowest level in a long while on Monday. I've shown numerous volume studies in the past suggesting price highs and volume lows are typically followed by a pullback. Below is a study from last night's letter that examines the current setup.
The numbers here are fairly compelling, especially considering the studies used a long-term trend filter. Bulls may not want to get overly aggressive in the next few days. Risk appears elevated.
The numbers here are fairly compelling, especially considering the studies used a long-term trend filter. Bulls may not want to get overly aggressive in the next few days. Risk appears elevated.
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More great insight into the volumeless rally! Thanks for what you do. I linked this post on my site. Trevor - www.bookingalpha.com
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