Tracking Relative SPY Volume
By
Rennie on Monday, November 9th, 2009 at 3:21 pm
SPY volume currently running about 15% below Friday’s levels (see relative SPY volume chart). The low volume is a short-term negative sign for the next day or two given the nearly 5:1 positive breadth on the NYSE. The table below lists the last thirty instances in which SPY volume hit a three-week or better low on a day in which NYSE advancers topped decliners by more than a 2:1 margin. Note that in 25 out of the last 30 occurrences, or 83% of the time, the SPY posted a subsequently lower close within the next two days. That’s significantly greater than the 60% at-any-time odds for a lower SPY close in the same time frame.
NYSE Breadth 2:1 Positive, SPY Volume at Three-week Low
11/09/09… ???
09/28/09… Lower SPY close one session later
09/03/09… No lower SPY close within two days
04/08/09… No lower SPY close within two days
04/03/09… Lower SPY close one session later
11/28/08… Lower SPY close one session later
10/20/08… Lower SPY close one session later
08/22/08… Lower SPY close one session later
01/29/08… Lower SPY close one session later
12/24/07… Lower SPY close two sessions later
11/23/07… Lower SPY close one session later
09/27/07… Lower SPY close one session later
08/24/07… Lower SPY close one session later
12/26/06… No lower SPY close within two days
07/03/06… Lower SPY close one session later
05/27/05… Lower SPY close one session later
05/26/05… Lower SPY close two sessions later
05/09/05… Lower SPY close one session later
12/28/04… Lower SPY close two sessions later
11/24/04… Lower SPY close one session later
09/16/04… Lower SPY close two sessions later
08/27/04… Lower SPY close one session later
05/18/04… Lower SPY close one session later
02/17/04… Lower SPY close one session later
11/14/02… Lower SPY close two sessions later
11/23/01… Lower SPY close two sessions later
11/13/01… No lower SPY close within two days
03/30/01… Lower SPY close one session later
11/24/00… Lower SPY close two sessions later
07/03/00… Lower SPY close one session later
07/01/98… No lower SPY close within two days
Tracking Relative SPY Volume
By Rennie on Monday, November 9th, 2009 at 3:21 pmSPY volume currently running about 15% below Friday’s levels (see relative SPY volume chart). The low volume is a short-term negative sign for the next day or two given the nearly 5:1 positive breadth on the NYSE. The table below lists the last thirty instances in which SPY volume hit a three-week or better low on a day in which NYSE advancers topped decliners by more than a 2:1 margin. Note that in 25 out of the last 30 occurrences, or 83% of the time, the SPY posted a subsequently lower close within the next two days. That’s significantly greater than the 60% at-any-time odds for a lower SPY close in the same time frame.
NYSE Breadth 2:1 Positive, SPY Volume at Three-week Low
11/09/09… ???
09/28/09… Lower SPY close one session later
09/03/09… No lower SPY close within two days
04/08/09… No lower SPY close within two days
04/03/09… Lower SPY close one session later
11/28/08… Lower SPY close one session later
10/20/08… Lower SPY close one session later
08/22/08… Lower SPY close one session later
01/29/08… Lower SPY close one session later
12/24/07… Lower SPY close two sessions later
11/23/07… Lower SPY close one session later
09/27/07… Lower SPY close one session later
08/24/07… Lower SPY close one session later
12/26/06… No lower SPY close within two days
07/03/06… Lower SPY close one session later
05/27/05… Lower SPY close one session later
05/26/05… Lower SPY close two sessions later
05/09/05… Lower SPY close one session later
12/28/04… Lower SPY close two sessions later
11/24/04… Lower SPY close one session later
09/16/04… Lower SPY close two sessions later
08/27/04… Lower SPY close one session later
05/18/04… Lower SPY close one session later
02/17/04… Lower SPY close one session later
11/14/02… Lower SPY close two sessions later
11/23/01… Lower SPY close two sessions later
11/13/01… No lower SPY close within two days
03/30/01… Lower SPY close one session later
11/24/00… Lower SPY close two sessions later
07/03/00… Lower SPY close one session later
07/01/98… No lower SPY close within two days