June 20, 2023

Volume Analysis | Flash Market Update — 6.20.23

This past week the S&P 500 drove past our targeted resistance point of 4400 on very strong Capital-Weighted Volume and capital flows. The internals followed suit with an advancing Advance-Decline Line and stocks nearing 2023 yearly highs.

Both Capital Weighted Volume and Capital-Weighted Dollar volume are closing in on all-time highs. Last week witnessed very strong capital inflows of $62 Billion with slightly above-average outflows of $43 Billion.

S&P 500 support is 4400 and then 4200. The next major S&P 500 resistance resides @ 4550. Overall, strong inflows continue to drive the markets higher as the generals (NDX 100) are finally rallying up the troops (Russell 2000).

Grace and peace my friends,


Updated: 6/20/2023

Historical references do not assume that any prior market behavior will be duplicated.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

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