correction: Overall volume this morning during the decline of Dow over 200 pts was moderate, not light, and half way into today's session, it is about 1B on the NYSE and 1.4B for the Nas, so it is not as light as it has been for some of the recent days. Volume of 2.5B+ on the NYSE would be considered very heavy, while over about 2.2B would be heavy.
The Dow and the market is rallying mid-day, while breadth remains negative but the Nas u/d vol is now positive, almost 2/1, after yesterday's huge drop in the Nas so it may be some catching up, resetting the supply/demand balance in the very near term.
The last hour and the close will be important for those trying to discern if this test of the 2002/2003 lows in the Spx is successful or not, if this is a tradeable bottom for the intermediate term.
drbob |
