Guess you were not trading yesterday, as demand retrenched after the previous day's demand rebound. Additionally, overall equity market volume levels came in far below the average (and downtrend volume days) despite 10 basis points of upside.
As you can see from the price/volume heat map, outside of energy and industrials, demand was rather lackluster across all sector groups and the market as a whole. This setup suggests a lack of follow through on the gains seen in previous days trading, coinciding with the fall off in volume levels as the price of equities increase. Not a good sign post if you are long.
As you can see from the price/volume heat map, outside of energy and industrials, demand was rather lackluster across all sector groups and the market as a whole. This setup suggests a lack of follow through on the gains seen in previous days trading, coinciding with the fall off in volume levels as the price of equities increase. Not a good sign post if you are long.
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