Monday, April 16, 2007

A suspect rally?

I exaggerated the 1-year charts of the SPYs, QQQQs and IWNs to highlight the volume of the post-China rally. Notice how the volume's 20-day EMA has been decreasing for the duration of the rally. While this is usually a bearish sign, keep in mind volume levels are coming down from high levels from the China sell-off.

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