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Chart of the Week: Nasdaq Cumulative Up Down Volume

Posted By Barry Ritholtz On January 20, 2004 @ 12:16 pm In Finance,Media | Comments Disabled

More up volume than down suggests buyers are still in control of the demand/supply battle. Other indicators are similarly Bullish: The Nasdaq A/D also supports the bullish bias as it continues to trend up.

Nasdaq Cumulative Up Down Volume
Source: Technimentals [1]

The Up/Down indicator is a quicker turning signal than other bullish indicators, and should provide enough lead time before any serious sell off occurs. As long as it remains as strong as it has been, the long side of equities is where we want to be. If this signal seriously falters, we would advocate moving aggressively to cash.

Random Items:
The state of the Bush economy [2]
Silicon Valley VCs 2004 predictions [3]
The Low-Cow, Mad-Carb Portfolio [4]
VOIP (Voice Over Internet Protocol) Makes a Comeback [5]
10 key scientific advances of 2003 [6]
Why Doesn’t Rubin Trust You With His Thoughts? [7]

Quote of the Day:
“The generally accepted view is that markets are always right – that is, market prices tend to discount future developments accurately even when it is unclear what those developments are. I start with the opposite point of view. I believe that market prices are always wrong in the sense that they present a biased view of the future.”
-George Soros [8]

Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2004/01/chart-of-the-week-nasdaq-cumulative-up-down-volume/

URLs in this post:

[1] Technimentals : http://www.technimentals.com/cgi-bin/mesh

[2] The state of the Bush economy: http://money.cnn.com/2004/01/19/news/economy/election_sotu/index.htm

[3] Silicon Valley VCs 2004 predictions: http://www.siliconvalley.com/mld/siliconvalley/7745386.htm

[4] The Low-Cow, Mad-Carb Portfolio: http://www.thestreet.com/funds/supermodels/10136745.html

[5] VOIP (Voice Over Internet Protocol) Makes a Comeback: http://knowledge.wharton.upenn.edu/index.cfm?fa=viewArticle&ID=917

[6] 10 key scientific advances of 2003: http://news.bbc.co.uk/1/hi/sci/tech/3330527.stm

[7] Why Doesn’t Rubin Trust You With His Thoughts?: http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_lewis&sid=a8GqoR52egM4

[8] George Soros: http://www.soros.org/

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