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ETF s Volume Adv/Decl: Overbought Zone ?
October 9 ( From TradingView )
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ETF s volume account now for more than 15% of total volume on
the stock exchanges. It now influence tremendously the market
making new highs or new lows....
ONE chart below is worth a look where we will show the ratio of
the ETFs Advance Volume compare to the ETF s Declining Volume
to the US Stock Market. ( Bottom Panel of the Chart )...
And since September 29, that ratio started strenghtening ( 7 DMA ),
indicating more participation from ETFs ( Retail Participants ) and reached on October 8 the Overbought Zone. In fact, the last time we had the 7 DMA of that ratio at that Overbought level was back on February 13 2014.
(Chart Below - Top Panel - Blue Line - Ellipse)
One very interesting factor is that the ETF s Volume Adv/Del did not confirm the previous top from the Mighty SP500 Index done on September 17 2015; Technical Divergence we have indeed.
(Chart Below - Top and Bottom Panel - Ellipses)
But the most interesting technical factor is that the ETFs Advance/
Decline Volume is within the overbought level as we are near a Major Resistance Trendline from a Rising Channel on the SP500 Index around 2025.
( Chart Below - Bottom Panel -Ellipses )
ETFs Advance Volume
ETF s Declining Volume
( Moving Average 7 days ( Blue Line ))
and SP500 Index ( Bottom Panel = Candles )
ETF s Volume Adv/Decl: Overbought Zone ? $SPY #Trading #investing #etf #SP500