Always consider hidden risks
SPY ETF / AAPL Price Volume Trend:  Two Worlds Apart ?
​October 16 ( From Stockcharts , Columbus Dispatch, Barchart, TradingView  )
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The Situation

We observed that the Price Volume Trend of the SP500 tend to ​turn
​earlier ​and or confirm the trend of the Mighty SP500 as you may see
​in the chart below... The same idea for Apple Shares (AAPL).

Since we broke the Major Support Trendline on Apple Shares (AAPL )
​on August 4 and the Major Rising Wedge Support Trendline on August 20
on SPY ETF​​, ​PVT level cratered but at a lower level that the ​previous ​
​severe ​correction on October 2014. ​(See Charts Below - Bottom Panel - Ellipses)​

Apple Shares recovered sooner than the SP500 Index as PVT tested
​the October 2014 zone on September 16 2015 but SPY was far from
​that level.​

​​As SPY PVT get stronger from September 29 previous bottom and
​reached a level over the September 16 peak, Apple PVT got weaker
​since then, showing tremendous technical weaknesses.​

​​Another way to see that technical divergence between SPY and AAPL:

- On SPY we broke on the upside the 20 DMA on October 5 then at 194.59 ( See First Chart Below - Top Panel - Yellow Line - Ellipse )
and the 50 DMA ( Day Moving Average ) on ​October 8 then at 199.84​ ​( See First Chart Below - Top Panel - Red Line - Ellipse )​ . We broke already the Resistance Trendline on SPY from August 18.

​- In the case of Apple Shares, we did not break yet either the 20 DMA at 111.89. ( See Second Chart Below - Top Panel - Yellow Line - Ellipse ) ​or the 50 DMA ( at 112.43 ) ​( See Second Chart Below - Top Panel - Red Line - Ellipse )​ 
​ We did not break yet on Apple Shares the Resistance Trendline from July 21. 


"To fight and conquer in all your battles is not supreme excellence; supreme excellence consists in breaking the enemy's resistance without fighting."

-Sun Tzu, the Art of War

SPY ETF / AAPL Price Volume Trend: Two Worlds Apart ?  $SPY, $AAPL  #Trading #investing #aapl #SP500
Price Volume Trend - a Definition

​​PVT is a leading indicator for future price movements. Although interpretation of PVT is similar to the OBV and the Accumulation/Distribution indicators, PVT more accurately demonstrates the flow of money. PVT adds only a proportional amount of volume to the indicator, whereas OBV adds the same amount of volume not considering whether the market closes up a fraction of a point or triples in price.

1.Rising PVT means new money, sometimes referred to as "smart money, " is flowing into the marketplace. The result will be that the present trend will continue. Accelerating PVT rise indicates that "the masses" are joining the new price trend.
2.If the PVT then levels off, it is often an early warning that the trend is finishing.
3.Declining PVT indicates that the smart money is liquidating.
4.If the PVT moves sideways or falls while the price is rising, the increase in price is not confirmed and a market top or bottom may be indicated.
SP500 Index ( SPY ETF - Top Panel )
​​20 DMA ( Yellow Line )
50 DMA ( Red Line )​​
​Price Volume Trend ( Bottom Panel - Blue Line )

Apple Shares ( AAPL - Top Panel )
​​20 DMA ( Yellow Line )
50 DMA ( Red Line )​​
​Price Volume Trend ( Bottom Panel - Blue Line )