Friday, November 15, 2013

Another Day, Another Dollar- S&P 500 Price/Volume Heat Map

As I stated yesterday, the next stop on for the S&P 500 is likely to be the 1,800 level, as traders/investors like round numbers and will gravitate towards those levels. My thoughts are that when we reach this level, more information, as in volume, will be released and short-term directional trends will be established or reestablished.

In any event, the demand on yesterday's price rise appears generally on the positive side but noting that some more cyclical groups had weaker demand trends. For instance, industrials, tech, and discretionary. More so, the upside volume continues to be weak.

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