Intraday Update (Volume Running Low for an FOMC Announcement Day)

Noteworthy that NYSE volume continues to run below yesterday’s levels. Assuming this persists into the close, volume will come in below its 20-day average. That’s fairly unusual coming on a regularly scheduled Fed meeting. The last twenty times that NYSE volume came in below average on the day of a Fed meeting are listed in the table below. Note that in every case but one, the S&P reversed course over the next 1-2 days…

NYSE Volume Below 20day Avg on an FOMC Announcement Day
04/29/09… S&P Closes higher… Lower Close Next Day
12/16/08… S&P Closes higher… Lower Close Next Day
10/29/08… S&P Closes lower… Higher Close Next Day
08/05/08… S&P Closes higher… Lower Close Two Days Later
01/30/08… S&P Closes lower… Higher Close Next Day
06/28/07… S&P Closes lower… Higher Close Two Days Later
05/09/07… S&P Closes higher… Lower Close Next Day
03/21/07… S&P Closes higher… Lower Close Next Day
08/08/06… S&P Closes lower… Higher close Two Days Later
05/10/06… S&P Closes lower… No higher close next 1-2 days
03/28/06… S&P Closes lower… Higher Close Next Day
11/01/05… S&P Closes lower… Higher Close Next Day
08/09/05… S&P Closes higher… Lower Close Next Day
02/02/05… S&P Closes higher… Lower Close Next Day
11/10/04… S&P Closes lower… Higher close Next Day
08/10/04… S&P Closes higher… Lower Close Next Day
08/12/03… S&P Closes higher… Lower Close Next Day
06/25/03… S&P Closes lower… Higher Close Next Day
12/10/02… S&P Closes higher… Lower Close Two Days Later

Categories : Archived Intraday Commentary, Intraday Commentary

 Print This Post