NYSE Down Volume Doubles in the Last 30 Minutes

There was a plethora of shooting stars
and gravestone dojis Thursday across the components of the DJIA, NASDAQ and
S&P 500.  Both of these candlestick patterns exhibit long upper
shadows, where price at open and close are very close in proximity to
each other, near the low of the candle.  The long upper shadow indicates
that bullish intra-day momentum has exhausted itself, which enables
sellers to push price back down towards the open.  After an exhaustion
gap opening across US equities, sellers not only effectively regained
control by session's end but their new-found bearish momentum will carry
forward into the next trading session.  Weakness that permeates beyond
the opening hour tomorrow will likely bleed into late Monday if not
mid-day Tuesday.

So when exactly did these bearish
reversals occur ?

Despite the fact that a high was
established for most major markets at precisely 12:48 (EST), the real
fireworks didn't occur until 15:28 (3:28 EST), where Volume of NYSE
Declining Issues proceeded to more than double its daily tally in the
session's final half-hour ... an extremely rare and impressive feat. 
This intense EOD sell-off tops any form of bearish activity in recent
weeks' memory.  And while we stand eager to see what kind of legs this
bearish momentum can develop into early next week, any significant
market top (greater than 5 days and 5%) will be determined by the
vigor, or lack thereof, of the ensuing reflex bounce.  If this
is to be a top of significance there is no need to fret either today or
tomorrow ... if The Top is near, there will be a lot
of points to make and profits to take from banks to bake on the next
50%+ nosedive with nose-bleed speed ... if this is anything
more than a much-needed breather, the time to properly position will be
in 1.5 - 2.5 weeks after a reflexive bounce exhausts itself and
Fibozachi indicators start screaming (a day before everyone
else knows what him 'em).

NYSE Up Volume / Down
Volume

NYSE 1-Minute

VOLD: NYSE Up-Down Volume
Difference

Proprietary Advance/Decline Indicator - 7
Primary US Equity Markets

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machinations of financial markets ~ check out fibozachi.com.

There, you can view a body of our
analytic work as well as detailed
explanations of the unique design development and technical
methodologies within the proprietary technical indicator packages that
we employ to perform a comprehensive technical analysis of
financial instruments (stocks, options, ETFs, bonds,
futures, FOREX, etc.) across interval periods of time, tick and volume.

Comments

[Racer]

And oh look, futures were soaring in out of hours thin trading... as usual, squeeze any shorts who dare

[aint no fortuna...]

so simple... gun the futures overnight on chump change and make all your fucking problems go away

rinse and repeat as often as necessary

run 'em on good news, run 'em on flat news, run 'em on bad news... just fucking run 'em and the big guy will take care of the tab

[anony]

End of Quarter fronting?

[crosey]

Internals have been squirrely this week.  Issues up, but volume down, or vice-versa.  Gotta be nimble, and content with small gains.  Preserve capital!