Friday, August 30, 2013

Market Tries to Stage a Rally as Price/Volume Heat Map (8/29) Suggests Demand Remains Weak

Another day and another attempt at a rally in the market after Tuesday's shellacking. Although the S&P 500 gained about 20 basis points in value on the day, it was the second day the market closed closer to the lows of the day, suggesting selling pressure versus buying pressure.

More so, the demand dynamics are weighted more toward the neutral side. This is not what you would expect if the market was going to attempt a rally. That said, the impending labor day holiday could be resulting in lower overall demand, as traders and investors are on vacation.

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