Last week Volume price is so significant that it is hard to ignor!
Highest Volume since Feb 2021 and 2x of weekly average in the past 52 weeks!
This clearly shows the willingness to close long positions is at the highest level!
The only bigger and green bar is the last week of March 2020 at the end of the pandemic crash!
I am going to monitor this as a significant bearish phenomenon!
I know this sound rediculous when most market tickers are green, but only 9% of tickers are trading with volume above their relative volume!
Relative Volume (often times called RVOL) is an indicator that tells traders how current trading volume is compared to past trading volume over a given period. It is kind of a like a radar for how “in-play” a stock is.
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
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This is the first time I see these numbers for SPY in the past few weeks, Put/Call volume:1.38 and Put/Call OI for the next 30 days 1.87 which means Big money has bet against the market! Max pain 459..!
The kids who entered the market a year or two ago think they know.......... I remember when 2020 happened and these same kids were on margin and they are gone. I remember one who said I just need to make some money to start a business. Not only did that not happen.. I think he lost all his and the money he borrowed. Sad, but reality.
DaddySawbucks
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Strongly resembles Dec 2018, also noticed price leviating on really small volume, odd lots and 100 shr lots in QQQ; retail buyers
akatsiya
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how do you access rvol thanks trading view has rvol scrips but they are not good
cas34310
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It's honestly tough to say. Clearly the market is just overbought in the extreme but the buying volume on the week is very high; It's comparable to most weeks this past quarter and we're 2 trading days in. Very tough to say right now especially after today's breakout. Every bone in my body wants to go short but damned if that chart is still levitating lol.
gbrfkt
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Hi there! Nice idea to keep an eye on this, but I believe this green candle will easily break the previous highest high considering the amount of money printed in the us and will flush around 490.