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Matt's Market Insights

 

Amidst weak economic reports the market continues to chug higher. The S&P spent nearly the entire day in new-high territory, before selling off at the close to finish one point below the existing record. Any gains tomorrow would put the S&P in positive territory for the year, a feat which has been nearly unattainable so far. A new high in the S&P would also be confirmed by the Advance-Decline line, seen below to the right, which continues to show strong participation in this market.

 

 

 

Over half of the trades executed in the market each day are triggered by computer based algorithms designed primarily to execute upon technical factors. I've often wondered, and am still trying to decipher, whether this has changed the relevance of volume based confirmations. Here's what I mean. In technical analysis volume has historically been a very important part of the puzzle. The standard view is that "volume goes ... Log in or subscribe to continue reading.


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