TVO Market Barometer 7/11/17: Are family tweets a concern for the bulls?

Tweeting from the White House has the potential to move markets, and today was no exception (apparently the Twitter pastime runs in the family). And today the market did move quite a bit, except volume barely seemed to notice. In fact, HG Live held steady at a CHILLY -1 up until the close with very little declining volume to support the “bearishness” of the move. While markets were sinking, overall volume actually boosted +5%, which was more than enough for the Nasdaq to finish positive and log an accumulation day. Outright price manipulation? Or is it really true that volume precedes price and therefore can be used to predict price behavior? You can be the judge, but the big money players were not too concerned with today’s news (or perhaps they don’t have a Twitter account), and are so far still forging ahead with the 50 dma buy plan. -MD

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