Using the NYSE/Nas vol ratio
This chart is used to gain insight into the speculative side of the markets. Nasdaq volume is said to be dominated by speculators , as NYSE volume is dominated by professionals. History has shown that high readings in the vol ratio chart mark topping periods as speculators have become very active. Readings that are running low are bullish as they show professionals are accounting for the majority of volume.
Using the volume ratio chart intraday is not as productive as say the adv/dec ratio , or the tick indicator combined. Although knowing intraday that the vol ratio is running high , or running high and has for previous sessions can be insightful to traders.
As it is a good time to take profits from longs , or even take positions against the speculators , as end of day sell downs , or even gap downs the following session can follow high ratio readings. The opposite is true for low readings.
BTW the NYSE/Nas vol ratio began running high as of Wednesday's session , and continued right into the Friday close. Of course we all know it was the end of the 1/4 and window dressing was running rampant. Especially in the speculative names in the Nasdaq that have been on recent tears. That has to taken into cornsideration this past week , when reading the ratio chart.
Hope this is of some help...........
Woodfish
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