Another Bearish Day after friday although market was up
It can't at the highs at the highs. From friday's big Picture then NYSE volume declined again today on a big up day that was up 200 shaving to up 100 and below daily VWAP.
"Stocks staged a negative reversal Friday, finishing slightly down after early gains evaporated.
The Nasdaq was up 0.4% by late morning but then reversed to a 0.1% loss. The S&P 500 turned a 0.3% gain into an almost 0.2% dent. But the IBD 50 added 0.9%.
Volume rose on the Nasdaq but fell on the NYSE. Friday was an options expiration day, which usually lifts volume.
Friday's action was difficult to characterize. The negative reversal was clearly a bad thing. But the range of trade from the day's high to the day's low was tight. Truly scary reversals cover a wide range.
Volume also sent a mixed message. The NYSE's lower volume was surprising, considering it was an expiration day."
Feels alot like march 2000 when comparing samll and mid caps to what the Naddy and Q's were doing in 2000. GET Out can buy back alot lower in a year or two perhaps 50% or more lower on those indexes. so declining volume friday on op X then declining volume again today. RED FLAG Warning, new highs on declining volume. where are the Institutional buyers?
"It can't close at the highs of the days. too much pent up institutional profit taking for it to stay there". They are running for the exists. Perfect opportunity for individual Investors to get out now and let the big pension funds play chicken with each other to see who will run the R2K PE up to 80 before it collapses to 10. Its a 1999-2000 rewind on the small caps but those are in four times the bubble of 2000. worse than the NDQ in 2000. the R2K is a complete joke at a forward PE of 75. and no dividend.