Volume Analysis | Flash Market Update

West Coast Summit in San Francisco

April 4 - April 6

Join us in San Francisco for an unforgettable three-day event, and position yourself at the forefront of the rapidly evolving financial markets!

Exclusive presentations, expert panels, and invaluable networking opportunities, all within a city renowned for its entrepreneurial spirit. With its rich history of innovation and proximity to Silicon Valley, San Francisco is the perfect location for exploring the future of finance. The summit will also feature a wine-tasting tour through one of California’s renowned vineyards.

CLICK HERE TO REGISTER

Volume Analysis | Flash Market Update – 9.2.24

Published on 09/02/2024

Source: Volume Analysis Flash Market Update, by Kingsview Investment Management

September 2, 2024

LEARNING OBJECTIVES

And Then There Were None Part IX While the S&P 500 managed to eke out a slight gain for the week, with the NYSE AdvanceDecline Line reaching an all-time high, the flow of capital continued to trickle out of the market
Despite the S&P 500’s modest 0.24% rise, there was noticeable divergence among market segments
[…] The post Volume Analysis | Flash Market Update – 9.2.24 appeared first on Kingsview .

And Then There Were None Part IX

While the S&P 500 managed to eke out a slight gain for the week, with the NYSE AdvanceDecline Line reaching an all-time high, the flow of capital continued to trickle out of the market. Despite the S&P 500’s modest 0.24% rise, there was noticeable divergence among market segments. The troops, represented by the iShares Russell 2000 ETF (IWM), slipped by -0.14%, while the generals, tracked by the NDX 100, dropped -0.74%.

Interestingly, the broadening theme persisted, with the brass commanders leading the charge. The Invesco S&P 500 Equal Weight ETF (RSP) outperformed, climbing 0.90%, and the Schwab U.S. Dividend Equity ETF (SCHD) showed even stronger leadership, advancing by 1.21%.

However, beneath the surface, signs of outflows became apparent. Despite the S&P 500’s advance and the record highs in the Advance-Decline Line, both Capital Weighted Volume and Dollar Volume reflected net outflows. Specifically, while $10.8 billion flowed into S&P 500 members, a larger $13.7 billion exited. IWM remains confined within its August 2nd weekly range, with support at 207 and resistance at 229. Meanwhile, the S&P 500 is inching closer to resistance at 5655, with key support resting at 5550.

Grace and peace my friends,

BUFF DORMEIER, CMT

Updated: 9/2/2024. Historical references do not assume that any prior market behavior will be duplicated. Past performance does not indicate future results. This material has been prepared by Kingsview Wealth Management, LLC. It is not, and should not, be regarded as investment advice or as a recommendation regarding any particular security or course of action. Opinions expressed herein are current opinions as of the date appearing in this material only. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate their ability to invest for the long term. Investment advisory services offered through Kingsview Wealth Management, LLC (“KWM”), an SEC Registered Investment Adviser.

The post Volume Analysis | Flash Market Update – 9.2.24 appeared first on Kingsview.

Shared content and posted charts are intended to be used for informational and educational purposes only. The CMT Association does not offer, and this information shall not be understood or construed as, financial advice or investment recommendations. The information provided is not a substitute for advice from an investment professional. The CMT Association does not accept liability for any financial loss or damage our audience may incur.

About the Author | Buff Dormeier, CMT

As the Chief Technical Analyst at Kingsview Wealth Management, Buff Dormeier, CMT, helps RIAs and IARs grow and preserve their affluent and institutional client’s wealth. By combining comprehensive wealth management strategies with proprietary state-of-the-art analysis, he creates an income plan for life and a legacy for beyond. A private portfolio manager, Buff developes goal-based portfolio investment strategies tailored to the financial plan of the end client.

As a volume evangelist, Buff is a regularly featured speaker and enjoys sharing his research and investment theories. He literally wrote the book on volume analysis, authoring Investing With Volume Analysis, and was awarded 2012’s Technical Analyst Book of the Year / Trader Planet’s Top Book Resource 2011.

Buff also enjoys publishing his commentary and research. That information can be found via a weekly market commentary, a host of media partners, and various technical journals.