Tuesday, December 3, 2013

Back to the Grind- S&P 500 Price/Volume Heat Map for Dec. 2

The S&P 500 spent most the day yesterday grinding it out. After trading flat to slightly higher most of the trading day, the market closed lower on accelerated volume levels into the close. Although the accelerated volume, indicating distribution, total volume on the day was light.

The same can be said about the price/volume heat map indications, showing that supply/demand was more or less balanced. That is outside of telecom and discretionary. Although I remain bearish, there is nothing I am seeing that says the upturn will be interrupted in the short-term.

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