"There was a bulge in downside volume on the NYSE Friday (probably traders closing their positions before taking the next 2 weeks off)."
Mike Burk
I have seen this movie before. Losing positions sold before year's end, for tax purposes.
But overall Stock price is held up on low volume going into the new year.
However, VIX rockets up as a warning.
Early in the new year, we could see selling of 2021 winners, thus delaying tax consequences until 2023.
Of course, TWT.
Mike Burk: .
Breadth has continued to deteriorate; however, the market is a bit oversold going into a seasonally modest strong period that lasts until the end of the year on the lowest volume of the year.
There was a bulge in downside volume on the NYSE Friday (probably traders closing their positions before taking the next 2 weeks off).
It seems like sentiment is low enough that sellers have possibly finished for now.
But some believe that sentiment is useless and have told me so. LOL!
(I think they likely demand an exact threshold number at specific levels rather than in relation to recent market context.)
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Edited by Rogerdodger, 18 December 2021 - 01:54 PM.