The 5/14 and 5/4 overhead gaps are pulling hard now.
S&P 500 ETF (SPY)
Breadth confirms the short-term trend change despite the light volume. The UpDn%T(E) indicator illustrates the tranfer of control from the bears to bulls.
NYSE Breadth
Wednesday, June 16, 2010
U.S. Stocks
A close up of the S&P 500 chart reveals a breakout on light volume. Technically speaking, this is a false breakout. False breakouts can be reversed over time as trend energy builds into the advance, or serve as a warning to an unstable technical position. As I have said before, capital flows seeking protection against devaluation are dominating market trends. Trend energy will likely pick up as the rally progresses. Markets tend to reverse when time is right, and volume simply confirms that.
The 5/14 and 5/4 overhead gaps are pulling hard now.
S&P 500 ETF (SPY)
Breadth confirms the short-term trend change despite the light volume. The UpDn%T(E) indicator illustrates the tranfer of control from the bears to bulls.
NYSE Breadth
The 5/14 and 5/4 overhead gaps are pulling hard now.
S&P 500 ETF (SPY)
Breadth confirms the short-term trend change despite the light volume. The UpDn%T(E) indicator illustrates the tranfer of control from the bears to bulls.
NYSE Breadth
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