Price Time Volume Investing

The Nasdaq Composite (COMPQ), SP500 Index (SPX), Dow Jones Industrial Average (INDU), and Smallcap 600 (SML) all finished at highs on high volume. The Nasdaq 100 (NDX) finished at a high but about flat – which is not bad considering earnings misses.

The SPX swing chart is very constructive. The SPX finished at a new swing high and the move has been 5 days which is longer than any previous move during the correction. I want this move to exceed 11 days with a new swing high before my confidence becomes high that the move will continue. But I am certainly more positive about the SPX status today than I was yesterday.

The COMPQ did not make a new swing high but was up on high volume. I need to see this close at a new swing high in the next couple days or I will be worried.

Chart courtesy of Stockcharts.com

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Tags:   Dow Jones Industrial Average (DJI) · Nasdaq Charts (IXIC) · Swing Charts · VolumeNo Comments