Getting back into a more swing of things after a few days off. Trading in yesterday's markets was volatile to say the least, with market trading down around 50 basis points before the Fed Minutes, trading up after the release, but finally trading off near the lows of the day. This is a negative signal in of itself. Selling pressure was present across the board.
The price/volume heat map primarily showed a weighting toward the supply-side of the supply/demand balance. This occurs while total volume levels on the market continue to expand on down days. That said, I would expect that the weakness seen over the last week will give way to a counter trend bounce. Maybe to the 50 day moving average.
The price/volume heat map primarily showed a weighting toward the supply-side of the supply/demand balance. This occurs while total volume levels on the market continue to expand on down days. That said, I would expect that the weakness seen over the last week will give way to a counter trend bounce. Maybe to the 50 day moving average.
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