Zeev's Turnips Patch-No Politics (ZEEV)

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Volume is one of the single most important indicators of market health. Market tops are generally formed on high volume and often with violent swings despite low measured volatility. Does this describe the current market condition?

Take a look at the important semiconductor index, as shown by the SMH, because we can measure volume on this 5 year weekly chart. If volume precedes price then it is important to note that institutional investors not only became net sellers this week but they did it on some of the highest volume ever on the SMH and NASDAQ:




I am expecting a short term market rebound but it will take a lot of volume to overcome the overhead resistance that is now in place.

Just noticed your nice post.

Thanks, RtS