Wednesday 7 August 2013

Very low volume at the all time highs of the stock indices

We are seeing very low volume at the new highs of the major indices. This may just mean there are a lack of selling in the market. As we know that in an uptrend, we ignore the No Demand bars. However, this is feeling more like we may be in for another shakeout, and it may be larger than the last one which was about 130 points on the ES.  I will be keeping my eyes on these over the next few days looking for signs of a reverse down.

Here are the daily charts from the 4 main Indices.