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Commentary Topic from greenfaucet

Market Bounce Nearing an End

The payroll report was not good, no matter what spin is put on it. Technically, the stock market sold off on higher volume after peaking in mid October, and has rallied on less volume. Between October 14 and November 2, the 21 day average of total volume rose 10.3%. Since November 2, volume has fallen 1%. The DJIA has retraced 83% of its decline from the mid October highs, while the S&P has recovered 61.8%. The broad market is lagging, as the Russell 2000 hasn't even bounced back by 50% of its sell off.