Volume Analysis | Flash Market Update – 5.20.24

Two weeks ago, the accumulated NYSE Advance-Decline line reached new all-time highs. This past week, the AD Line extended those highs, lifting major large-cap indexes such as the SPX, NDX, and the Dow Jones Industrials to new all-time highs as well. Volume continues to lead price, extending its own all-time highs set again nearly a month earlier.

For the week, capital flows were lighter than average, with inflows of $51.6 billion compared to outflows of $20.6 billion. Upside volume was above average, while downside volume remained below average. Leading the charge higher for the week, the NDX 100 gained 2.12%, followed by the iShares Russell 2000 ETF (IWM) up 1.85%, the S&P 500 up 1.54%, and the Dow Jones Industrials up 1.24%. The next major resistance for IWM rests at 212.

Grace and peace my friends,

BUFF DORMEIER, CMT®

Updated: 5/20/2024. Historical references do not assume that any prior market behavior will be duplicated.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.