Volume Analysis | Flash Market Update 1.23.23
The market ran into resistance this past week, backing off but finishing strong with a bullish fury. Although stocks were down slightly for the week, capital flowed into the market on light volume. $34.1 billion seeped out compared to $36 billion in inflows. Likewise, the number of stocks advancing marginally outpaced the number of declining in the Advance-Decline line. The bears scored a weak victory not only in price terms but also in the fall of stocks making new 52 highs.
Overall, the market is at critical crossroads juncture. The direction taken at the apex could have strong implications on the course of the intermediate trend.
Grace and peace my friends,
BUFF DORMEIER, CMT®
Historical references do not assume that any prior market behavior will be duplicated. Past performance does not indicate future results. This material has been prepared by Kingsview Wealth Management, LLC. It is not, and should not, be regarded as investment advice or as a recommendation regarding any particular security or course of action. Opinions expressed herein are current opinions as of the date appearing in this material only. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate their ability to invest for the long term. Investment advisory services offered through Kingsview Wealth Management, LLC (“KWM”), an SEC Registered Investment Adviser.