Online Stock Trading | Price and volume divergence continues

Price and volume divergence continues


Filed Under Market Commentary |

Different day, same story as stocks continue to push higher without volume. Stocks stumbled out of the gate to only bounce around in positive territory. The market action is signaling to me that the weak bears still have not bought into this rally. Speaking with some traders most are believing this market is overbought. We know overbought conditions can get even more overbought. Without a doubt we’ll experience a reaction to this rally, a pullback. Institutional selling may even creep in the next few days.
Earnings season brings wild swings intraday. Stay patient, do not let some institutional selling scare you.
We ended like this:
NASDAQ +.28%
S&P 500 +.25%
Russell 2k +.90%
S&P 400 +.74%
S&P 600 +1.04%
NYSE comp +.54%
I’ll see everyone at Investors Paradise!
MktSpec

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