The Volume Weighted Average Price (VWAP) is just an indicator, nothing more. It’s not a holy grail, it’s not a signal to buy/sell, it’s imply the average price over a given period of time. One could argue though that the VWAP is used quite regularly in some algos, just not so sure about larger time
The Nasdaq, Naz, tech, the Q’s, whatever you want to call it has been the leader off the March lows and has also been leading this move lower. It was the first of the major indices to gain a footing above it’s 50-day moving average and was above its 200 DMA a full month before
OK, we had the test and the grades are in; the support levels passed. The good news is that there is a lot of bad news, both earnings forecasts and economic data, priced into the current levels. Today’s move off of the lows shows some resilience in the bulls and the technicians. The question will
Whoa Nelly! Out of the last 4 weeks of trading there have only been two days that the Dow hasn’t had a triple digit move up or down. I expected a bit of a move higher today as stocks typically don’t move too far in either direction pre FOMC statements, but not a near 11%
Short-term Breadth Update
In case you were purposefully not watching the market today… there was a bit of a train wreck. Looking at the futures after hours and seeing the continuation of downside pressure thanks to Cisco ($CSCO). Who knows what will happen overnight, but Thursday could be another ugly day, at least until the knife catchers come