Volume Analysis | Flash Market Update
Published on 01/02/2024
January 2, 2024
Update
Capital Weighted Volume and Dollar Volume were light on the shortened week. Despite a slight upward movement in the broader markets, both Capital Weighted Volume and Dollar Volume showed declines. The Volume Momentum Indicator (VMI), currently at 29, is approaching levels indicative of a potential washout, suggesting that the market may be overbought. While a robust bull market can push through overbought conditions, a moderate bull market often takes a pause, and a weak bull market typically undergoes a correction. The last instance of VMI reaching this level was on July 29th (VMI 28), highlighting that phase of the bull market as weak.
Wishing you a fantastic '24!
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About the Author | Buff Dormeier, CMT
Buff Dormeier serves as the Chief Technical Analyst at Kingsview Wealth Management. Previously, he was a Managing Director of Investments and a Senior PIM Portfolio Manager at the Dormeier Wealth Management Group of Wells Fargo Advisors.
In 2007, Dormeier’s technical research was awarded the prestigious Charles H. Dow Award. Also an award winning author, Buff authored “Investing with Volume Analysis“. Partnering with Financial Times Press, Pearson Publishing and the Wharton School, this book is the only one to win both Technical Analyst’s Book of the Year (2013) and Trader Planet’s top Book Resource (2012) to date.
Buff’s work has also been featured in a variety of national and international publications and technical journals. Now, with Kingsview Wealth Management’s affiliation, Buff’s expertise and proprietary work on technical and volume analysis shall become much more accessible to journalists and other media alike.
As a portfolio manager, Buff was featured in “Technical Analysis and Behavior Finance in Fund Management” – an international book comprised of interviews with 21 PM’s across the world who utilize technical analysis as a portfolio driver. In his new role with Kingsview Wealth Management, Buff’s unique performance driven strategies will be now be available to a wide audience of financial advisors and institutional clientele.
Buff has a Bachelor’s Degree of Science (B.S.) in Business and a Bachelor of Applied Science (B.A.Sc.) in Urban and Regional Planning from Indiana State University.
