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Lowest SPY Volume Day For 2009

Tyler Durden's picture




 

The SPY just hit a 2009 low in volume, and markedly below the comparable period last year.

NYSE volume also dropped below a 100 and 200 DMA, and declined materially from the prior week's volume increase.

hat tip McBlondy

 

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Mon, 08/10/2009 - 16:48 | 32012 Joanito
Joanito's picture

Green shoot

Mon, 08/10/2009 - 16:51 | 32018 deadhead
deadhead's picture

Turn those machines back on, damnit.

Mon, 08/10/2009 - 16:52 | 32020 Nolsgrad
Mon, 08/10/2009 - 16:53 | 32022 Comrade de Chaos
Comrade de Chaos's picture

hi, i am your new friend, low volume - profit generator robot "awsomo." I will handle all of your portfolio re-balancing and trading needs. At the same time, I'll lower your overall transaction costs. And don't you worry, your secrets and strategies are safe with me...

Mon, 08/10/2009 - 16:59 | 32033 RatherBFlying
RatherBFlying's picture

Gee, Awsomo... you're my best friend.

Mon, 08/10/2009 - 16:59 | 32032 IE
IE's picture

Low volume = no buyers = bullish signal = green shoot?  Or maybe wilting shoot?

I think I'm smelling stimulus 2 coming to a country near you in Q3 ... to put another 25% of icing on this cake before the bluebird of fundamental happiness comes in & craps on it.

Mon, 08/10/2009 - 17:26 | 32076 cougar_w
cougar_w's picture

u r 2 funny

Mon, 08/10/2009 - 18:35 | 32182 MinnesotaNice
MinnesotaNice's picture

I agree that Stimulus Two is coming our way... there is too much chatter being put out by the Administration that it is not coming... they are floating it out in the media for discussion, to test the concept, and get the sheep used to the thought that there could be a Stimulus Two... so when it happens the masses will willingly follow.  Along the same theme as the "stress tests" that were talked to death until it was a non-event.

Mon, 08/10/2009 - 17:05 | 32041 Sancho Ponzi
Sancho Ponzi's picture

Simple: All the money got diverted to Freddie Mac;)

Mon, 08/10/2009 - 17:07 | 32045 Ned Zeppelin
Ned Zeppelin's picture

Does anyone have a thumbnail number to put on the S&P p/e ratio as of the close of Q2? Understanding that frail retail numbers are yet to be heard this week.

Mon, 08/10/2009 - 17:13 | 32054 Anonymous
Anonymous's picture

Shouldn't the Cash for Clunkers program artificially pump up the retail numbers this week?

Mon, 08/10/2009 - 17:43 | 32111 Anonymous
Anonymous's picture

At today's closing of 1007.10, the S&P 500 P/E ratio based upon Q2 Operating earnings (88% of companies reported) is 27.60. Q2 As Reported earnings P/E is 141.92.

Mon, 08/10/2009 - 18:23 | 32163 deadhead
deadhead's picture

clearly a steal at those ratios.

Tue, 08/11/2009 - 21:40 | 33436 Ned Zeppelin
Ned Zeppelin's picture

Thank you. What do you think of those ratios?

It always rains in September, around the middle of the month.

Mon, 08/10/2009 - 17:17 | 32057 Assetman
Assetman's picture

I'm thinking low volume in SPY and the equity decline today was a test. With a lower market, would there be support for the dollar and lower Tresury yields (it helps as auctions are upcoming)?

Mission accomplished.

Now, the Fed can commence buying Treasuries around the auctions and weaken the $ until we get to QE decision time in September.

Mon, 08/10/2009 - 17:26 | 32070 Sancho Ponzi
Sancho Ponzi's picture

Roger that, Assetman. BTW, has anyone else noticed the recent grand scale disappearance of Obama bumper stickers from the boots of cars?

Mon, 08/10/2009 - 17:35 | 32103 Anonymous
Anonymous's picture

They should be replaced with:

Hey Lyndon Obama!
No Vietnamistan!

Mon, 08/10/2009 - 19:18 | 32238 Anonymous
Anonymous's picture

They were all recycled with the cash for clunkers cars.

Mon, 08/10/2009 - 19:45 | 32272 Anonymous
Anonymous's picture

hahaha - beautiful

Tue, 08/11/2009 - 08:32 | 32650 ivant
ivant's picture

brilliant!

Mon, 08/10/2009 - 23:01 | 32471 Anonymous
Anonymous's picture

do you live in the south?

Tue, 08/11/2009 - 01:01 | 32547 Anonymous
Anonymous's picture

nailed on head waiting ,hoping for all this to end.so we can rebuild. thank you.

Mon, 08/10/2009 - 17:31 | 32090 kote
kote's picture

Weren't prices supposed to go up on low volume?  What'd I miss here?  Are we switching to high volume on up days low volume on down days?  This market already is nowhere near making any sense... sigh.

Mon, 08/10/2009 - 17:34 | 32099 Screwball
Screwball's picture

Off topic - Fast Money just had a guy on talking about HFT.  Might want to check that out TD.

Mon, 08/10/2009 - 17:51 | 32123 Anonymous
Anonymous's picture

dang ... spring of yesterdays lows on teh daily spy ... drop in volume but but but but traded below yesterdays low and closed well ... not a bearish bar imo. expect follow thru higher tomorrow as high as a secondary test of last weeks high ...
and then we wait and see if supply shows up ... imo just because we have light volume and are trading higher that is not bearish ... there are no seller to thwart the advance so higher on lighter volume is no big deal imo. bwthdik....
I guess the one thing we might want to be watching is for an hourly bar that trades more volume than the opens hourly bar..
so far we have not see that off the march lows ... that happens and we might LOL be getting close to a top.. good lord why dont I just go with trend.

Mon, 08/10/2009 - 18:23 | 32162 Anonymous
Anonymous's picture

Goldman Sacks HAL 9000 was hiding in a closet today to avoid getting papers served on him.

Mon, 08/10/2009 - 22:34 | 32438 Assetman
Assetman's picture

I wouldn't go quite that far, anon... but they were pretty quiet on the whizzbangs today. 

Someone did a little gunning in the last hour, obviously after the T-market shut down for the day.  Let's go down... just not too far down.

Mon, 08/10/2009 - 18:42 | 32193 Anonymous
Anonymous's picture

TTM PEx (mostly GAAP, some non-GAAP on some high growth tech) of my portfolio was a little over 12 this weekend. yawn

Mon, 08/10/2009 - 19:15 | 32236 Anonymous
Anonymous's picture

NO One buying either, once we get confirmation SELL want to see who is going to hold up the floor.

Mon, 08/10/2009 - 21:06 | 32351 newera22
newera22's picture

I definitely agree with you Anon 32236. People all holding to see how much more money Tim and Ben can print into their account. Once the party ends everyone showing up at the Valet line at the same time. Usually, these types of parties have lots of valet drivers (shorts) to help the customers. But times are tough for the shorts and there won't be anyone around like usual. Shorts are doing buy and hold now. Market would have to drop at least near 1000 points before shorts might even be interested in covering. There's nothing left.

Mon, 08/10/2009 - 21:22 | 32366 Anonymous
Anonymous's picture

The one thing that should really worry people about this rally is what it's doing to shorts. If you have shorts sitting on the sidelines or going long because they keep getting squeezed and it seems that no matter what that this rally will continue despite logic and fundamentals things are really really getting out of balance. You're going to end up with a scenario in which the only sellers are longs who won't buy on the way down and there are no more shorts to cover on the way down and cushion the fall.

Mon, 08/10/2009 - 20:23 | 32319 Anonymous
Anonymous's picture

Bullish comments on the S&P 500 from BAC and C equity strategists today.

Are they pumping it up prior to a dump? Time will tell.

admin
http://invetrics.com

Mon, 08/10/2009 - 21:03 | 32349 newera22
newera22's picture

Lower volume means taxpayers purchasing less S&P futures to prop the market up. Green shoot. Tim and Ben's Excellent Bubble of '09 lives on.

Mon, 08/10/2009 - 21:33 | 32375 Anonymous
Anonymous's picture

All hail the Obamatron and his bail out bubble!

Mon, 08/10/2009 - 22:13 | 32401 nogeithner (not verified)
nogeithner's picture

dang ... spring of yesterdays lows on teh daily spy ... drop in volume but but but but traded below yesterdays low and closed well ... not a bearish bar imo. expect follow thru higher tomorrow

The Rich says"

good articles; finance news & opinions

Mon, 08/10/2009 - 23:09 | 32459 Arm
Arm's picture

Low volume of course means even a grandmother buying or selling shares will move this market.  Up or down.

Mon, 08/10/2009 - 23:27 | 32499 Anonymous
Anonymous's picture

This is just a case of fool me once shame on you. Fool me twice shame on me.

Tue, 08/11/2009 - 00:51 | 32543 Anonymous
Anonymous's picture

Bears are worn out & the bulls are in...

that's why there was no trading today - market equilibrium.

Tue, 08/11/2009 - 02:20 | 32569 Anonymous
Anonymous's picture

NO more flash orders...no advantage....stop the computers

Tue, 08/11/2009 - 04:39 | 32594 Anonymous
Anonymous's picture

The volume isn't that bad YoY. 880m shares on the SPX versus 990m last year. No idea why you obsess about an ETF instead of the actual Index.

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