The broad market advanced today. The Russell 2000 outperformed other indexes by climbing up 1.04% while the S&P 500 gained only 0.38%. The NASDAQ 100 pushed to new six-week high today.
Volume for the S&P 500 was 1,634 million shares today, 22% less that the average daily volume of the past 3 months.
Short-Term Market Outlook
15-day charts (1 bar = 15 minutes) with a SBV(16) are showing declining SBV oscillator readings at session’s end. Negative money flow on this chart would suggest the possibility of negative trading tomorrow after the market open. 30-day charts (1 bar = 30 minutes) with a 13-period SBV are showing declining SBV, however, SBV readings are at high, positive levels on these charts by suggesting that, even if we see negative trading at the market open, it could be short-lived unless we see stronger SBV decline on the 30-day charts.
