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Volume/price Analysis Of The Market Indexes

|Includes: SPDR S&P 500 Trust ETF (SPY)

As market indexes moved up, we witnessed an increase in volume. The Bulls continue to dominate the market by topping the Bears.

When it comes to volume-price combined analysis, there are several factors to consider:

  • We have strong presence of the long-term Bulls - see Selling-Buying Volume Flow on the S&P 500 chart below.
  • At the current moment Bullish pressure is only slightly stronger than the bearish pressure - see Up/Down Volume on the S&P 500 chart below.
  • Despite overall strong long-term bullish pressure, the Bulls are not pushing the price strongly up, yet they use any retracement to stop the Bears.
  • The volatility is at very low level (see the chart below). Low volatility is a bullish sign, however, very low volatility suggest the absence of a strong bullish pressure as well.

So far volume-price analysis favors the Bulls. The market indexes do not rally up as strong as they did in November of 2016. Most time the indexes move side-way. We have small up-moves and very shallow corrections. We may say that this is a one of the "lazy" Bullish market, but, it is still Bullish.

For the next week, volume sentiment continue to favor the Bulls. However, volatility data, suggest we should not expect any strong moves. Most likely we are looking into another week of side-way low volatility trading on positive bios.

Charts courtesy of

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.