Volume Analysis | Flash Market Update – 6.10.24
It is the same old story, same old song and dance, my friend. This past week, the generals (NDX 100) led, up 2.50%, and the troops (iShares Russell 2000 ETF, IWM) retreated, down by -2.22%. However, during this segue, the mega-cap rally occurred on light volume. The S&P 500 finished the week up 1.32% on average capital inflows of $45 Billion and below-average outflows of $25 Billion. This week’s market breadth was poor as declining issues led advancing issues on the NYSE.
Overall, both accumulated Capital-Weighted Volume and Capital Weighted Dollar Volume continue to break all-time highs. This past week’s range of 5375 and 5235 mark the S&P 500’s short-term resistance and support levels. It is the same old story, same old song and dance, my friend.
Grace and peace my friends,
BUFF DORMEIER, CMT®
Updated: 6/10/2024. Historical references do not assume that any prior market behavior will be duplicated.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.
