Online Stock Trading | Day 9 ends with the Market higher but absent from the party, volume.

Day 9 ends with the Market higher but absent from the party, volume.


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Day nine of our attempted rally ended with the S&P 600 leading the charge up 1.07%.  Market tone hasn’t changed, volume fell on the NYSE and Nasdaq.  We still could see an attempted rally tomorrow but with lack of volume and leadership (CANSLIM still 50% active) I still don’t see any reason for a confirmed rally. 
 
I am still catching up with the markets.  One big thing I noticed is the AAII Bear index crossing the AAII Bull…a sign that we are nearing an end to heavy selling.  It is clear that many traders and big institutions have finally stepped aside and will remain on the sidelines for awhile!
 
I’ll be back with more tomorrow morning.
 
MktSpec

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