Monday, December 3, 2012

Volume Off the High 12/3/12- The Trend may be Changing

There was a reversal of sorts in the count of both new high volume highs and volume coming off the highs. Not only did the initial count of high volume highs fall off a cliff in the latest run, but so did the final tally (shown below). This is in contrast to the number of stocks and funds selling off from highs, as the number in the initial run and final tally expand. Does this portend a reversal in the market? We shall see. As a side note, the standardized VIX data showed a significant jump towards the negative end of the risk spectrum (i.e. towards more positive measures) in today's trading.Another theme of sorts seen in today's run is that a number of New York Municipal Bond Funds saw high selling volume at or near recent highs.







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