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SPDR S&P 500 ETF Message Board

  • ibdman15 ibdman15 Feb 24, 2014 5:02 PM Flag

    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?

    Sentiment: Strong Sell

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