Today was a good pause on lower volume for the SP500 Index (SPX) and DOW (INDU). The SPX is within 2% of a monthly high while the DOW is up for the month of July.
The Nasdaq 100 Index (NDX) had a lower volume down day. But a couple big stocks knocked it down and they could be where the markets wants them now. The NDX and Nasdaq Composite Index (COMPQ) are within one percent of being positive for July.
Here are the weekly charts for the SPX, NDX, and INDU which clearly show accumulation this week.
The smallcaps were down slightly today on lower volume. But this is the second up week on high volume for the Smallcap 600 index (SML).
The daily NDX chart is representative of the constructive lower volume day occurring today.
Charts courtesy of Stockcharts.com
Tags: Accumulation Day · Dow Jones Industrial Average · Nasdaq Charts · Standard and Poor's 500 (S&P500) · VolumeNo Comments
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