Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Wednesday, June 30, 2010

Wall St tumbles on global economic worries

On Tuesday June 29, 2010, 4:14 pm

NEW YORK (Reuters) - Investors fled the U.S. stock market on Tuesday and the S&P 500 tumbled to nearly an eight-month low in a sell-off triggered by a wave of increasing alarm over the global economic outlook.

The S&P 500 broke a key technical resistance level as it hit a session low below 1,040.78, its previous intraday low for 2010.

The Dow Jones industrial average (DJI:^DJI - News) fell 268.22 points, or 2.65 percent, to finish unofficially at 9,870.30. The Standard & Poor's 500 Index (^SPX - News) dropped 33.33 points, or 3.10 percent, to close unofficially 1,041.24. The Nasdaq Composite Index (Nasdaq:^IXIC - News) slid 85.47 points, or 3.85 percent, to end unofficially at 2,135.18.

(Reporting by Rodrigo Campos; Editing by Jan Paschal)

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