Buyers Have Left the Building

Here’s a quick blurb from my weekly piece over at TraderPlanet:

Most recently we’ve seen a fairly large divergence in buying volume, lasting almost the entire rally since July. Buying pressure has nearly fallen off a cliff during this recent bout of weakness in the S&P 500, a sign that equity bulls either had weak hands to begin with as they pull the trigger to exit their longs or there just hasn’t been very many bulls coming to the party the last few months, which if true, will create more heartache for those still holding long and strong.

Go read the rest here: Forget Elvis, Buyers Have Left the Building (TraderPlanet)

Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything written and/or displayed here is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer. Connect with Andrew on Google+.

About Andrew Thrasher, CMT

Andrew Thrasher, CMT is a Portfolio Manager for an asset management firm in Central Indiana. He specializes and writes about technical analysis as well as macro economic developments.