was that the flush to the upside?
Stock Market Today - Intraday discussion - Page 6197
umm they removed the word "selloff"and "down" from the market dictionary. They replaced it with" ha ha we got you bears" and "buy high sell higher"
I left the default ones. I just wish I could get more exact volume by price bars with stockcharts.
I made this switch to incorporating VWAP with my VSA strategy and it was the smartest thing I ever did.
I don't think the volume is that weak, SPY should be able to top 226.5 MM which is highest red day volume in last ten sessions. If we do, it would make 7 of 10 green sessions on SPY with the top five volume days all being green days. That's impressive especially after this big run up, it shows there is at least decent sideline money coming in, let's face it all the shorts are either dead meat or have covered, who is reshorting into this right now? Not many. At 190MM we should hit 230MM including T-trades posted after the cash close. Weekly volume is higher than last week. Sure we're under 1-month avg volume but I see some volume expansion on a 2 week timeframe (i.e. daily bars over last 2 wks).
I concede that if you look at all indexes, volume is a bit light, but I think a lot of smart money is sitting out due to all the uncertainty. Seeing QQQ on lower volume makes sense since it is underperforming but still up today and has been a leader off the lows.
The way I've been looking at volume recently is that it has been sending lots of false signals during moves, mostly being useful when the big reversals are being made or the big supports being tested. Also, since August, the big volumes have come on reversals off what turn out to be swing lows.
Is anyone else musing at the fact the Dow is the leader today? Heck it even posted a new high a few times in the last 30 minutes!!
lol I am definitely a bear now. I was bullish at the beginning of this month, but the rally is going on a lot longer than I thought I think it is a bull trap if we don't see a mini selloff EOD
15 min ago
Man some of you toss around that bull trap bear trap stuff like it's candy.
Surely you did not expect 5-7% gains every week? This is bullish consolidation from a classical TA perspective. Through that lens I view this as very bullish action, independent of news wild cards.