《⚠️The US stock rebound continues on declining volume; I still see it as a relief rally and remain bearish》
I still view this latest rally in US stocks as a relief rally. The rebound has stalled near where the steep sell-off began, and volume hasn’t picked up, so insufficient demand remains the core issue here.
📊 Futures rebound, but volume has yet to follow
On the two-day charts for Nasdaq and S&P futures, the rebound since the sharp drop on November 5 has been on declining volume and has stalled near where the sell-off began. The price-volume relationship in futures suggests that this low-volume rise reflects insufficient demand.
🔎 Indices perform differently; watch both demand and selling pressure
The Nasdaq’s two-day chart opened higher, then fell on rising volume, indicating considerable selling pressure. The S&P and QQQ, by contrast, have risen on declining volume. In particular, volume has contracted sharply during QQQ’s recent rebound, signaling clearly insufficient demand below.
I remain bearish on US stocks overall. There’s a fairly high probability that this move in QQQ is just a relief rally, followed by further declines.
💬 During this rebound, are you more focused on the Nasdaq’s high-volume pullback or QQQ’s low-volume rally?
If you found this recap useful, please give it a like, share it with friends who follow US stocks, and save it to check against future price-volume changes.
X: print_kbar
I still view this latest rally in US stocks as a relief rally. The rebound has stalled near where the steep sell-off began, and volume hasn’t picked up, so insufficient demand remains the core issue here.
📊 Futures rebound, but volume has yet to follow
On the two-day charts for Nasdaq and S&P futures, the rebound since the sharp drop on November 5 has been on declining volume and has stalled near where the sell-off began. The price-volume relationship in futures suggests that this low-volume rise reflects insufficient demand.
🔎 Indices perform differently; watch both demand and selling pressure
The Nasdaq’s two-day chart opened higher, then fell on rising volume, indicating considerable selling pressure. The S&P and QQQ, by contrast, have risen on declining volume. In particular, volume has contracted sharply during QQQ’s recent rebound, signaling clearly insufficient demand below.
I remain bearish on US stocks overall. There’s a fairly high probability that this move in QQQ is just a relief rally, followed by further declines.
💬 During this rebound, are you more focused on the Nasdaq’s high-volume pullback or QQQ’s low-volume rally?
If you found this recap useful, please give it a like, share it with friends who follow US stocks, and save it to check against future price-volume changes.
X: print_kbar
