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While the Nasdaq100 closed down over 2% on Thursday, up volume swamped down volume on the NASDAQ exchange by roughly a 2:1 margin. This type of divergence between price and breadth literally never occurred prior to 2016. But since 2020 this has become more and more common. Thursday was the 22nd occurrence since 2016. All but one led to a sharply higher NDX one month later. Average gain was 7%…

NDX -0.5%, Nasdaq Up Volume >60% of Total Volume
07/11/24… NDX ???
05/30/24… NDX +6.9% one month later
12/04/23… NDX +2.8% one month later
04/11/23… NDX +3.0% one month later
11/29/22… NDX -4.8% one month later
07/18/22… NDX +14.8% one month later
09/27/21… NDX +2.3% one month later
05/18/21… NDX +7.2% one month later
03/30/21… NDX +8.3% one month later
01/14/21… NDX +6.8% one month later
01/11/21… NDX +5.8% one month later
01/06/21… NDX +7.8% one month later
01/04/21… NDX +5.6% one month later
12/23/20… NDX +6.6% one month later
11/09/20… NDX +4.5% one month later
09/16/20… NDX +5.8% one month later
07/21/20… NDX +4.5% one month later
07/16/20… NDX +5.1% one month later
06/04/20… NDX +10.1% one month later
03/25/20… NDX +17.6% one month later
11/14/16… NDX +4.7% one month later
03/07/16… NDX +5.6% one month later

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