The market entered the shortened Labor Day week with its ranks already stretched near elevated ground. Most days traded on average volume, but the character of that volume leaned defensive. Tuesday registered 77% downside Capital Weighted Volume, Wednesday followed with 85% downside volume, and Thursday remained tilted lower with 61% downside volume. Friday finally delivered […]

Generals and Troops Poke Their Heads Out of their Bunkers The week started out on poor footing, but the bulls found support just where they needed it. On Wednesday, the S&P 500 rallied from the 7600 defensive line. Then on Thursday, the market popped with an 88% Capital Weighted Volume /Dollar Volume upside/inflow day. Despite […]

Broadening Pause, Generals Assume Command This week’s battlefield staged a broadening pause as generals attempted to reassume command. The S&P 500 Index advanced 0.40%, but the path was not clean. The index kissed 7770 resistance on Friday, August 28th, before backing off. Price held firm, but participation was uneven. The key event came Thursday, Nvidia’s […]

Broadening Holds While the Generals Take Some Fire The year began with a first-quarter selloff in which price weakened more than volume. That distinction mattered. While the S&P 500 price trend broke in late March, Capital Weighted Volume largely held its corresponding trend, suggesting institutional sponsorship had not abandoned the field. April then delivered a […]