Volume Analysis | Flash Update – 3.6.23
The S&P 500 broke through 4000 resistance this past week. Capital inflows exceeded outflows $47.3 Billion to $31.2 Billion.Both capital weighted volume and dollar volume rose for the week, yet both remain below trend. Capital weighted dollar is very close to breaking above trend. This occurrence would signal a Volume Analysis Bull Market.
The Advance Decline moved higher, closing the week near February lows. S&P 500 resistance is nearing mild resistance at 4050 and 4060.Price is leading the charge higher but volume has been gaining ground in 2023. Presently, the markets appear balanced and capable of swinging either direction.
Grace and peace my friends,
BUFF DORMEIER, CMT®
Updated: 3/6/23
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