Volume Analysis | Flash Market Update 11.28.22
Last week was a quiet week for the markets. The S&P 500 traded mostly inside its range, closing near the weekly highs. For the week, the bulls received $28 billion in inflows versus the bears only $6 billion in outflows. Being a shortened week, this money flow action had little impact on the longer-term trend. Although the Advance-Decline line moved higher this week, the number of stocks making new 52-week highs began dropping for the first time since the October low. New Highs are the fastest of the indicators we follow, meaning changes in New Highs generally not only lead price but the other leading indicators as well. One weekly divergence hardly constitutes a trend, nevertheless, we will be keeping a closer eye on this New Highs indicator as we move to the new year and, more importantly, towards the pivotal Federal Reserve meeting Dec 13-14th.
Grace and peace to you my friends,
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