SPX500
Strong CPI report had really fueled the market to rally all the way up to near $4500 level, almost near to its previous peak point.
Yet, Daily total trading volume 22.425K
More than a 3rd of the volume went in within the very beginning two hours of the day.
The previous peak is $4596.74(July 31st) with 2.442M total volume $SPXV. Currently, the latest data indicates we are at a volume of 2.824M.
We have been seeing a huge drawback in intra day trading volume during the trading hours.
Like I mentioned in my previous post, the trading volume of the mighty seven has been only the half of their 10-day average, signifying that the market is yet not polluted by excessive volume.
The increase in volume inflow is likely to happen and today's (11/13) significant drawback of bitcoin
BTCUSD
supports this idea. If Bond market shows cool off signal by the end of this week, we should be able to confirm that the bull market is here, even if it is for a short term till next Jan-Mar.
Additionally, poor reports from foreign countries' such as today's Japan's below expected GDP growth adds comparative value to the dollar and overall US market, earning back the lost foreign investors interest to the market.
https://www.tradingview.com/chart/nUsFHWWQ/