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

Saturday, August 6, 2011

Stocks End Down 7% for the Week, Europe, Economy in Focus

Stocks zigzagged wildly in volatile trading Friday as an uncertain economy and fears about the European debt crisis prevailed.

Stocks are closing mostly lower after a day of whipsaw trading. The Dow Jones industrial average traded in a huge range of 400 points.

Investors are fearful that the debt crisis in Europe might infect banks there, roiling financial markets worldwide.

Stocks opened higher Friday after the government said hiring picked up in July, but the gains were erased within 25 minutes.

The Dow closed up 61 points, or 0.5 percent, at 11,445. The S&P 500 closed down a point, or 0.1 percent, at 1,199. The Nasdaq composite index closed down 24, or 0.9 percent, at 2,532.

The Dow fell 513 points Thursday, the biggest loss since 2008.

Three stocks fell for every one that rose on the New York Stock Exchange. Trading volume was heavy at 8.6 billion shares.

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