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Indicators We are Watching – Volume Signals

November 16, 2009

The Baltic Dry Index is climbing at a steep slope. The dollar is declining at a steep slope.

The S&P 500 is showing signs of exhaustion while gold and silver are plowing higher. At the same time, we are seeing a volume dry up for stocks on the NYSE and the Nasdaq. Fewer all times highs, but the moving average for the advance/decline on the NYSE is not showing an overbought position.

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The Price Oscillator for the S&P 500 is beginning to cross down for the first time since March.

Bullish sentiment is off of the charts, usually a contrarian indicator. There are many mixed signals, but it does appear that there could be a correction coming sooner than later for stocks and commodities.

TDIMG portfolios are currently hedged with 10% Short Russell Small Cap (RWM) and 5% S&P 500 Inverse (SH) – along with 25%++ cash. Until we see a breakout on volume, we believe there is potential risk to the downside.

(Click each chart to enlarge)

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Disclosure: Horowitz & Company clients may hold positions of securities mentioned as of the date published.

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Written by Andrew Horowitz · Filed Under Economy, MarketMash, Markets, Stocks, Strategy 

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One Response to “Indicators We are Watching – Volume Signals”

  1. Market and Economy on December 14th, 2009 10:14 am

    Indicators We Are Watching – NYSE A/D New Highs, Dollar Index…

    There was little changed over the last week as volume continues to be soft. Even so, the dollar surge…

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