On Friday the market plummeted after a triumphant rise, and even though we all heard the boy who cried “brexit” many times over, many folks just didn’t seem to take heed. With a +116% increase in overall volume, though, it seems the message is now loud and clear. Just how significant is that kind of volume boost? Here’s a list of every session (according to TVO) over the last 10 years where volume rose more than 100% in a single session.
|Over 100% volume rise:|
After the last occurence on 11/30/15, the market promptly sold off in a big way until February of this year. The time before that was the now famous “V” bottom (when TVO first came on the scene) that started a multi-month rally which led to a SPY all-time high. If you’re game to do a further in-depth study, you’ll soon find there are just about as many similarities as differences among the events (both technically and fundamentally), making a quantitative study quite the challenge. Without even getting into that, one thing is fairly certain to be seen… a big move is in the works. As far as direction, only time (and volume) will tell. -MD
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