Friday, March 19, 2010

SPX's (S & P 500) volume spiked dramatically today 3-19-10


SPX's (S & P 500) volume spiked dramatically today 3-19-10, at 4.765 billion shares (Google Finance says 4.810 bln sh right now, and, StockCharts' SPX volume will probably increase in the next hour; Edit Update: it did, to 4.914 bln sh) vs 3.579 billion shares yesterday 3-18-10 vs 60 day EMA at 3.899 bln sh, which suggests that the SPX (S & P 500) Monthly Upcycle since 2-5-10 probably/might have (massive Fed Credit delta of nearly +$30 Billion in 5 day period ending 3-17-10 is a major factor) peaked at 1169.84 on 3-17-10 (St Patrick's Day), because, a dramatic volume spike usually/almost always confirms/coincides closely with a price spike/cycle high (or an inverse price spike/cycle low), see the daily candlestick chart at http://bit.ly/i0nsT.

Note that SPX (S & P 500) put in a bearish slightly lower double top today at 1169.20 vs 1169.84 on 3-17-10. There's also obviously a chance that SPX's Major Upcycle since 3-6-09 peaked at 1169.84 on 3-17-10 (St Patrick's Day).

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