Friday, November 22, 2013

But Will There Be Follow Through- S&P 500 Price/Volume Heat Map Nov. 21

So will there be follow through? We will have to see, Yesterday, the S&P 500 gained about 80 basis points in value as all sector groups rose in price. This occurred while the S&P's sister index, the Dow Jones, topped the 16,000 level, on a closing basis, for the first time. Regardless of volume levels, which were weak overall in yesterday's trading, higher prices tend to beget higher prices.

More so, overall market demand appears to have returned, as evidenced by the price/volume heat map below. All told, I am unsure if we will get any definitive answer between now and the Thanksgiving holiday stateside, as traders begin to disappear and volume levels dry up.

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