Today the focus will be volume. Notice how OBV has flattened out. The down days are higher volume than the up days. Today had down day, and higher volume than average. The Moving averages on the OBV and the Volume chart shows what the average has been for the last 21 days. It gives a good estimate of the direction of the Stock market and if it is going to make higher highs. Although the OBV is above the moving average, the OBV really hasn't changed much in the past 2 months. The high is not supported by volume.
The same can be said about the S&P 500, a new high but the OBV did not really hit a new high. The down days seem to be above the moving average for volume and the up days are below the moving average.
The Nasdaq may be one that is not quite like that so it will be interesting to watch it for a while. It OBV has flattened out as well. Volume did not support the higher prices.
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