The SP500 Index as viewed by the SPDR (SPY) shows a big volume buying spike at 10AM and even more buying on volume after 3PM. I see the same thing on the Powershares QQQ Trust (QQQQ).
Was this morning a washout? I don’t know at this point. But somebody big was buying them below 1390 on the SPX and 49.40 on the QQQQ. I can’t show the interday charts but I can tell you the big volume occurred on the way up and not the way down today.
Post Modified: July 3rd, 2008 at 12:32 am
Tags: QQQQ · Standard and Poor's 500 (S&P500) · Volume1 Comment
1 response so far ↓
yup, saw that too, but tdameritrade was showing some really screwy numbers, according to them at 3 pm like 2 billion shared traded hands or so…
it is interesting how the sp500 touched one of the numbers you put in the weekly update (1372) and rebounded…. now, if it hits 1440 by midjune, I buy you a beer