Posted by: jhamon | June 25, 2009

Oops! Market Volume Fading…

From the pen of MysteryHedgie:

US equity trading volume…As the attached chart shows, it is bad and getting worse.  The last time that volume was good was May 7, when the TRAN Index topped and the divergence with the INDU began that has Dow Theorists bearish.  An old saying   has it that “Volume follows the trend” and for the time being,  both are down.  Expect the tape to continue sloppy prior to an “expected” effort to mark up prices at month end.  A break of 888 SPX (expected) and then 878 (a slip from Bernanke in today’s Congressional testimony a catalyst?) on increased volume over the next few days could produce the buying opportunity many have been awaiting patiently; macro assets continue their rangebound drift.                                            

Oops!  Market Volume is Fading

Oops! Market Volume is Fading


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