On May 15th, I wrote about the Up/Down Volume Ratio patterns in the S&P 500 (Where Are The Guests At This Party?) The S&P 500, sitting at all-time highs, did pull back right after that, falling 2.9%.
Here is that updated table. Notice that we've gone almost 2 months with an unusually high number of S&P 500 stocks with Up/Down Volume Ratios in the ‘distribution' area:
The last time the ‘Down' count was in the 160 area was October 3rd. Within a few sessions, the S&P 500 started a 7.5% drop:
After 7 weeks of distribution in a significant number of S&P 500 stocks, will buying suddenly come in? Or is another significant drop in store for us?
Of course, there's much more you need to know and many more stocks you can capitalize upon each and every day. To find out more, please click on the following link: www.markettamer.com/seasonal
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Unless indicated otherwise, at the time of this writing, the author has no positions in any of the above-mentioned securities.
Gregg Harris is the Chief Technical Strategist at MarketTamer.com.
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