13/23 last trading days made ATHs. The market's pretty much going higher in a straight line these days.
There's one problem.... where's the volume? We're at a ten year low in trading volume. Where's all that "sideline money"? What's it waiting for? A ten year low. How can that be ignored? Its a suckers rally. I remain bearish.
Wait a minute zandy. I agree, sideline money is not participating with significant numbers. But that chart does not prove the point beyond being something "convenient". Volume as a percent of capitalization? 1000 shares is 1000 shares, regardless of the price. But price is used to determine market cap! There is a HUGE, unrealistic assumption that engineered capitalization structure, which includes, buy-backs, splits, mergers, exercise, acquisitions, liquidations, privatizations, cancellations, secondaries, etc, has not occurred. We all know, THAT is false. Percent of float traded might be more accurate for proving the point. IDK. But then I am not in agreement with your bearishness at this time, beyond being short-lived, garden variety, trading opportunities. Happy Thanksgiving!!
Yeah I was wondering about that too actually. I was looking for some kind of volume confirmation of this breakout and that's what popped up. That said, I still remain bearish going into the most contentious election year ever. We also have one month left on our talks with N. Korea supposedly. I expect he'll get ornery soon enough, unless China uses that as a negotiating tool to back Trump down some more, which is probably what's going on behind the scenes anyway. Edit.... oops. Here ya go. https://elitetrader.com/et/threads/donald.315892/page-227#post-4970263