Jim Cramer = moron. Market Volume Declining. Anticipation?
Today was quite a choppy day, boring movements on low volume. These are they days when you sit around and play bouncy ball around the office waiting for trades! Technically speaking on most index charts we have broken, or are just about to break trend.(bearish) The violent rally has been trending nicely up until yesterday and today when the volume dried up. Could the almost 50% drop in overall market volume be foretelling a possibly reversal? One thing i do know and you can see for yourself in the chart too the left is the oscillators needs to unwind on daily candles. For this to happen we must drop to the 74.86 Fibonacci retrace level (7543 on the dow). If we hold this level of support we might bounce, but from the looks of things the chicken is not out of the frying pan. AIG, GM and even C still have a lot of things they need to sort out, maybe we have not bottomed? whatever i don’t care if we bottom, it all makes for great trading in a high volatility environment.