Volume Analysis | Flash Market Update 5.15.23

Closing in on 4200, this past week the S&P 500 continued its pause. Although the S&P 500 was down slightly (-0.29%), capital inflows outpaced outflows $41.25 Billion to $37 Billion. However, Capital Weighted Volume was down slightly for the week but still holding above trend. The same cannot be said about the Advance-Decline Line. The NYSE AD Line has been trending downward for a month. This past week it broke beneath its trend line which traditionally holds bearish implications.

Overall, the market continues to consolidate, trying to gain strength to break above S&P 500’s 4200 resistance level. The generals (NDX 100) are leading this push and have the capital flows behind them. However, the troops (Russell 2000) continue their defiant retreat.

Grace and peace my friends,

BUFF DORMEIER, CMT®

Updated: 5/15/2023

Historical references do not assume that any prior market behavior will be duplicated.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