The short-term technical outlook and increasing volume suggests the correction is over but are there any new opportunities for investors or traders?
The weekly on-balance volume (OBV) has broken through its short-term downtrend, line e, that was formed last fall.
Volume surpassed even short-term trading favorite Apple Inc. on those days.
Coupons, price reductions and such can be very useful, especially when marketers are looking to produce maximum short term volume, or gain first-time trial.
The heavy volume suggests a possible short-term selling climax.
The weekly on-balance volume (OBV) broke through its short-term downtrend, line b, ahead of prices.
The daily on-balance volume (OBV) is still below its short-term downtrend (line a), but did confirm the September highs.
Rallying for six days in a row, towards the upper limit of its trade range with low volume, Wall Street is ripe for a short-term correction.
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The volume was heavy in August and then broke the short-term downtrend in September.
The dominance of short-termism is evidenced by the magnitude of institutional stock "renting" for terms of 12 months or less, the volume of high-speed, high-frequency algorithmic short-term trading, the short average tenures of chief executive officers and the dominance of executive compensation tied solely to short-term results.
The completion of the short-term triangle formation (lines e and f) last week was accompanied by strong volume.
The very low volume indicated it was also due to the activities of other short-term traders, including program-trading firms and flash-traders, in there every day doing their job of making short-term trades for quick profits.
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Volume on the rebound has not been impressive, as the daily OBV is still below short-term resistance, line d.
The recent increase in volume is accompanied by an explosion in volatility: The CBOE Nasdaq Volatility Index, reflecting short-term expectations of volatility in the Nasdaq 100 Index, surged to 80 from 20 or so between mid-2006 and October of last year.
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