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

Thursday, June 2, 2011

Stocks Start June With a Plunge

NEW YORK—Stocks plunged Wednesday, suffering their biggest drop in almost a year, as a slew of downbeat reports prompted fears the economic recovery was running out of steam.

The Dow Jones Industrial Average closed down 279.65 points, or 2.2%, to 12290.14, the biggest point drop since June 4, 2010. All 30 of the blue-chip components finished in negative territory.

The Standard & Poor's 500-stock index fell 30.65 points, or 2.3%, to 1314.55, dragged down by the financial, industrial and material sectors, which each fell more than 3%. Only 10 stocks in the S&P 500 finished in positive territory. The technology-oriented Nasdaq Composite fell 66.11 points, or 2.3%, to 2769.19.


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