Thursday, November 11, 2010

Nasdaq 100 versus S&P 500

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It was very negative opening. We have not see such swing down at the market open for a while. However, the indexes are moving up. However, they are moving up on high volume. High trading volume could be seen on the Nasdaq 100 and DJI indexes. However, the S&P 500 index's volume is just a little bit higher. Russell 2000 volume is normal. High volume tells that the morning's sing down hit sensitive level and many traders from the Nasdaq 100 and DJI sectors started to sell. On the other hand big number of traders started to buy and pushed these indexes up.

I would not think that this recovery will be long, mainly, because I do not see high volume on the S&P 500 and Russell 2000 indexes and I do not think that the bullish traders on the Nasdaq 100 will be able to hold the entire market.

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