Volume Analysis | Flash Market Update - 11.21.22

CHIEF TECHNICAL ANALYST, BUFF DORMEIER, CMT

The bulls and the bears squared off last week only to score a draw. The S&P 500 did make a higher high for the week but closed slightly lower @ 3965 than the previous close, 3992.

Market Breadth has a similar story with the Advance Decline making a higher high but closing lower for the week. Capital flow finished the week to the downside with nearly $48 billion in outflows compared to $40 billion in capital inflows.

Overall, S&P 500 capital weighted volumes remain well below June lows while price is significantly above former June and July lows. The 3900 support and 4100/4200 resistance lines still remain as the battleground trading range.

Grace and peace to you my friends,
Buff Dormeier

SPX40W ad 11182022
cw volume NDR 11182022
ndr cw $ volume 1182022

Updated: 11/21/2022

Historical references do not assume that any prior market behavior will be duplicated. Past performance does not indicate future results. This material has been prepared by Kingsview Wealth Management, LLC. It is not, and should not, be regarded as investment advice or as a recommendation regarding any particular security or course of action. Opinions expressed herein are current opinions as of the date appearing in this material only. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate their ability to invest for the long term. Investment advisory services offered through Kingsview Wealth Management, LLC (“KWM”), an SEC Registered Investment Adviser. 

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