January 8, 2024

Volume Analysis | Flash Market Update — 1.8.24

Capital flows were light as expected during the short week. However, despite the abbreviated four-day trading period, downside Capital Weighted Dollar Volume (capital outflows) exceeded the average, pointing to significant selling pressure. Although the Volume Momentum Indicator has rebounded off its lows, it still suggests the S&P 500 may reside in overbought territory.  Meanwhile, IWM (the iShares Russell 2000 ETF) has once again fallen below 200 resistance. Looking ahead, the next key support levels for the S&P 500 are at 4635 and 4600.

Grace and peace my friends,


Updated: 1/8/2024

Historical references do not assume that any prior market behavior will be duplicated.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. 

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