The Bulls Put Up! Or Did the Bears Just Shut up??? This past week the S&P 500, along with several narrower formations, broke out to new all-time highs. On the surface, it appears the bulls have finally put up and the bears have shut up. The more important question is whether this was a decisive […]
Put Up or Shut Up In practical terms, the week began Wednesday, April 8th, with a decisive bullish gap higher in the S&P 500. The advance was supported by a 90% upside Capital Weighted Volume day on above average upside volume, though total volume remained only average. The rally delivered strong upside participation relative to […]
Put Up or Shut Up The month ended with a show of force, but the campaign remains unresolved. On the month and quarter-end, Tuesday, March 31st, the bulls launched a counteroffensive, delivering a 95% Capital Weighted Upside Volume day on above average volume. The new quarter opened with a 90% upside day on below-average volume. […]
Put Up or Shut Up The campaign opened with strength but ended with attrition. Early in the week, the bulls mounted a decisive advance with 97% of Capital Weighted Volume to the upside, though participation remained slightly below average. By week’s end, control shifted sharply as the bears delivered a 96% downside day on heavy […]
Put Up or Shut Up Markets continue to navigate the fog of war as the conflict with Iran enters another week and investors attempt to determine whether the recent price deterioration represents temporary battlefield chaos or the early stages of deeper distribution. This week’s volume statistics delivered a mixed but revealing set of signals. Monday […]
Fog of War Markets entered the week under a cloud of geopolitical uncertainty as open conflict between Iran and Western allies injected a sudden fog of war into global markets. Historically, markets dislike uncertainty far more than conflict itself, and the initial reaction was swift. The week produced two decisive downside engagements. Tuesday, March 2nd […]
Broadening Holds the Line as Supply Tests Conviction The week unfolded as a tug of war between conviction and caution. Wednesday, February 25th, delivered a decisive 95% capital inflow day on average volume, signaling strong demand beneath the surface. That thrust was quickly challenged. Thursday produced an 85% outflow day on above average volume, followed […]
It was a shortened week following the President’s Day holiday, weekly activity was light as typically expected in a four day week.. Even so, participation leaned constructive. Despite only four trading days, upside volume finished slightly above average. For the week, 68% of Capital Weighted Volume registered to the upside. The standout session came Wednesday, […]
Broadening Divergence Remains in Vogue The campaign continues to fragment along familiar lines. Broadening divergence remains the dominant theme, consistent with the broadening wider and deeper narrative, rotating away from narrow leadership and into broader ranks. The capital weighted S&P 500, represented by the SPDR S&P 500 ETF Trust, declined -1.28% on the week. The […]
From Strange Brew to Mixed Bag Last week, we characterized market conditions as a strange brew. This week that brew turned into a mixed bag, as the broadening theme reasserted itself through forceful divergence across leadership tiers. What appeared on the surface as disorder increasingly resembles waning fuel rotation. The generals took notable damage this […]