Fourth Consecutive 90% Volume Day

Up volume on the NYSE currently running at 96% of total volume. A final reading in excess of 92% would send the 20-day moving average of up volume% over 40%, closing out the oversold buy signal recently triggered on August 4th. A close below SPX 1200 would represent the first loss for this signal since August 1990.

It’s only a recent phenomenon, but also interesting to note that a 90% up volume session today would represent the second instance in the last three trading days. Since 1980, there have only been 17 separate instances in which a 90%+ up volume session appeared within five days of another 90%+ up volume session. Only one led to significantly lower prices two weeks later…

Second 90%+ Up Volume Day Within a Week of First 90% Up Volume Day
12/01/10… S&P500 +2.4% two weeks later
09/24/10… S&P500 +1.4% two weeks later
09/01/10… S&P500 +4.1% two weeks later
07/13/10… S&P500 +1.7% two weeks later
06/15/10… S&P500 -6.6% two weeks later (*)
06/02/10… S&P500 +1.5% two weeks later
05/27/10… S&P500 -1.0% two weeks later
07/15/09… S&P500 +4.6% two weeks later
04/09/09… S&P500 +1.1% two weeks later
03/23/09… S&P500 +1.5% two weeks later
03/17/09… S&P500 +2.5% two weeks later
03/12/09… S&P500 +10.9% two weeks later
11/26/08… S&P500 -1.6% two weeks later
03/18/08… S&P500 +2.8% two weeks later
11/28/07… S&P500 +1.2% two weeks later
08/31/07… S&P500 +0.2% two weeks later
08/20/82… S&P500 +8.6% two weeks later

Categories : Archived Intraday Commentary, Intraday Commentary

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