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, July 7, 2010

Dow industrials climb 57 to break seven-day slide

Traders hunting for beaten-down stocks lift stocks; Dow gains 57 points but ends off high

NEW YORK (AP) -- The Dow Jones industrial average broke a seven-day slide after traders sifted through the market for beaten-down stocks.

Investors tried Tuesday to recover some of the big losses that piled up following disappointing economic reports. The Dow had dropped 7.3 percent in the past two weeks and on Friday closed at its lowest level since early October.

The steep drop drew traders expecting to see the market bounce.

The Dow is up 57 points at 9,744. The Standard & Poor's 500 index is up 5 at 1,028, while the Nasdaq composite index is up 2 at 2,094.

Falling stocks narrowly outpaced those that rose on the New York Stock Exchange. Volume totaled 1.3 billion shares compared with 1.1 billion Friday.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

NEW YORK (AP) -- A big bounce in stocks faded Tuesday after investors worried that a slowdown in the economy would continue to pound the market.

The Dow Jones industrial average fell about 10 points in late afternoon trading after jumping nearly 172 the first hour of the day. Treasury prices rose as investors remained concerned about the economy.

Retail stocks logged some of the biggest drops ahead of reports later in the week on June sales. Investors are concerned that a weakening of the recovery will keep cautious consumers out of stores. Macy's Inc. fell 3.6 percent, while Nordstrom Inc. lost 1.9 percent.

Investors tried in early trading to recover some of the big losses that piled up in the past two weeks following disappointing economic reports. Traders initially shook off a midmorning report that growth in services businesses slowed last month. The Institute for Supply Management, a trade group of purchasing executives, said its services index fell to 53.8 from 55.4 in May. Economists polled by Thomson Reuters forecast 55.0. A reading above 50 indicates growth.

Read more ...

Stocks End Higher After Late Rally

NB: World Cup 11 June - 11 July 2010

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