Since our last Volume Sentiment Analysis SPY, QQQ & DIA have marched to new all-time highs, but markets are beginning to look unstable, making it a great time to check in with volume sentiments for the major indexes.
Last night the VIX closed at 17.85, indicating an implied one day move of +/-1.12% & an implied one month move of +/-5.16%, which adds to the importance of knowing our bearings in terms of historic market behavior.
This will also be of heightened importance in the event of a drawdown, as over the past couple of months there has been a lot of gappy behavior, with majors jumping up & continuing to advance, while leaving open windows in their wake.
Volume have remained high (see last week’s market review note), but are signaling that there is a bit more risk-off sentiment in the air & that market participants are less confident than they’ve been in the past.
In the event that we see re-tests of the current one year support or resistance levels, the data below can be used as a barometer to gain insight into how market participants have behaved histrorically.
This can shed light into how they may behave again & can be helpful in crafting a strategy for navigating these interesting conditions.
Each section below contains a view of each index ETF’s chart (for a technical breakdown of each’s chart, see the link above for last week’s note), as well as a list of their current one year support & resistance levels with the volume sentiment noted beneath it on the table.
There is an additional table beneath this table with each price level’s sentiment, as well as a typed text version below that is able to be copied & pasted.
Note that “NULL, 0:0*” values denote areas that each name has traded at but with limited volume data to work with from a comparison standpoint in terms of creating a ratio of buyers:sellers (or vice versa) or is the outlier above the highest/lowest level with price data.
Also, prices that do have a ratio of Buyers:Sellers (Sellers:Buyers) where the denominator is 0 are denoted with an asterisk “*” as well.
In the written lists of the price levels & volume sentiments the price levels that contain support & resistance levels are marked in BOLD.
Recall that at price extremes such as the highs that we have recently hit there will tend to be skewed data due to the small sample size & factor that into how you interpret each price level’s reported sentiment.
This is intended to serve as an additional tool, similar to a barometer to use during your due diligence process & is not meant to replace doing your own research & is not financial advice.
Price Level:Volume Sentiment Analysis For SPY, The SPDR S&P 500 ETF
SPY, the SPDR S&P 500 ETF has given up some losses since its last all-time high, but is still hovering around it, up +0.76% so far intraday.
Expect to see it restricted by the 10 day moving average’s resistance in the near-term, but as it approaches other support/resistance levels the data below can serve as a reference.
For a deeper dive into SPY’s technicals, see the link to the market review note above.
$640 – NULL – 0:0*, +1.92% From Current Price Level
$635 – Sellers – 1.5:1, +1.12% From Current Price Level
$630 – Buyers – 1.33:1, +0.32% From Current Price Level – 10 Day Moving Average*
$625 – Buyers – 5.4:1, -0.47% From Current Price Level – Current Price Level*
$620 – Sellers – 1.5:1, -1.27% From Current Price Level
$615 – Buyers – 1.8:1, -2.07% From Current Price Level
$610 – Buyers – 1.5:0*, -2.86% From Current Price Level – 50 Day Moving Average*
$605 – Buyers – 4.8:1, -3.66% From Current Price Level
$600 – Buyers – 12.2:1, -4.45% From Current Price Level
$595 – Sellers – 2.14:1, -5.25% From Current Price Level
$590 – Buyers – 1.3:1,, -6.05% From Current Price Level
$585 – Buyers – 2.63:1, -6.84% From Current Price Level – 200 Day Moving Average*
$580 – Sellers- 2.81:1, -7.64% From Current Price Level
$575 – Buyers – 1.74:1, -8.44% From Current Price Level
$570 – Even – 1:1, -9.23% From Current Price Level
$565 – Buyers – 1.5:1, -10.03% From Current Price Level
$560 – Sellers – 1.07:1, -10.82% From Current Price Level
$555 – Buyers – 3.53:1, -11.62% From Current Price Level
$550 – Buyers – 1.21:1, -12.42% From Current Price Level
$545 – Buyers – 2.24:1, -13.21% From Current Price Level
$540 – Buyers – 1.67:1, -14.01% From Current Price Level
$535 – Sellers – 1.11:1, -14.8% From Current Price Level
$530 – Buyers – 1.67:1, -15.6% From Current Price Level
$525 – Buyers – 1.92:1, -16.4% From Current Price Level
$520 – Buyers – 1.3:1, -17.19% From Current Price Level
$515 – Buyers – 4:1, -17.99% From Current Price Level
$510 – Sellers – 1.41:1, -18.79% From Current Price Level
$505 – Buyers – 1.2:1, -19.58% From Current Price Level
$500 – Sellers – 2.05:1, -20.38% From Current Price Level
$496 – Buyers – 1.21:1, -21.02% From Current Price Level
$492 – Sellers – 7.83:1, -21.65% From Current Price Level
$488 – Buyers – 1.61:1, -22.29% From Current Price Level
$484 – Sellers – 1.2:1, -22.93% From Current Price Level
$480 – Buyers – 1.27:1, -23.56% From Current Price Level
$476 – Buyers – 2.33:1, -24.2% From Current Price Level
$472 – Buyers – 1.91:1, -24.84% From Current Price Level
$468 – NULL – 0:0*, -25.47% From Current Price Level
$464 – Buyers – 1.83:1, -26.11% From Current Price Level
$460 – Sellers – 1.52:1, -26.75% From Current Price Level
$456 – Buyers – 1.13:1, -27.39% From Current Price Level
$452 – Buyers – 0.7:0*, -28.02% From Current Price Level
$448 – Buyers – 2:0*, -29.66% From Current Price Level
$444 – Buyers – 1.31:1, -29.3% From Current Price Level
$440 – BUyers – 2.78:1, -29.93% From Current Price Level
$436 – Buyers – 1.87:1, -30.57% From Current Price Level
$432 – Sellers – 1.56:1, -31.21% From Current Price Level
$428 – Buyers – 1.25:1, -31.84% From Current Price Level
$424 – Buyers – 1.92:1, -32.48% From Current Price Level
$420 – Sellers – 1.66:1, -33.12% From Current Price Level
$416 – Buyers – 1.08:1, -33.75% From Current Price Level
$412 – Buyers – 1.31:1, -34.39% From Current Price Level
$408 – Sellers – 1.63:1, -35.03% From Current Price Level
$404 – Buyers – 1.95:1, -35.67% From Current Price Level
$400 – Buyers – 2.51:1, -36.3% From Current Price Level
$396 – Sellers – 1.8:1, -36.94% From Current Price Level
$392 – Sellers – 2.03:1, -37.58% From Current Price Level
$388 – Buyers – 4.86:1, -38.21% From Current Price Level
$384 – Buyers – 1.67:1, -38.85% From Current Price Level
$380 – Buyers – 1.41:1, -39.49% From Current Price Level
$376 – Sellers – 2.44:1, -40.12% From Current Price Level
$372 – Sellers – 2.12:1, -40.76% From Current Price Level
$368 – Sellers – 2:1, -41.4% From Current Price Level
$364 – Sellers – 1.28:1, -42.04% From Current Price Level
$360 – Buyers – 1.17:1, -42.67% From Current Price Level
$356 – Buyers – 1.43:1, -43.31% From Current Price Level
$352 – Buyers – 1.67:1, -43.95% From Current Price Level
$348 – Sellers – 0.9:0*, -44.58% From Current Price Level
$344 – Sellers – 1.2:0*, -45.22% From Current Price Level
$340 – NULL – 0:0*, -45.86% From Current Price Level
$336 – NULL – 0:0*, -46.49% From Current Price Level
Price Level:Volume Sentiment Analysis For QQQ, The Invesco QQQ Trust ETF
QQQ, the Invesco QQQ Trust ETF is in a similar boat to SPY, hovering near all-time highs, seeing folks retreat from the uptick in declining volume perspective, and oscillating around the 10 day moving average while awaiting an upside or downside catalyst.
The data below can aid in making assessments around the strength/weakness of QQQ’s support/resistance levels.
$575 – NULL – 0:0*, +2.63% From Current Price Level
$570 – NULL – 0:0*, +1.74% From Current Price Level
$565 – Buyers – 1.39:1, +0.84% From Current Price Level
$560 – Buyers – 1.74:1, -0.05% From Current Price Level – Current Price Level*
$555 – Buyers – 6.25:1, -0.94% From Current Price Level
$550 – Sellers – 1.28:1, -1.83% From Current Price Level
$545 – Buyers – 1.92:1, -2.73% From Current Price Level
$540 – Buyers – 1:0*, -3.62% From Current Price Level – 50 Day Moving Average*
$535 – Buyers – 5.5:1, -4.51% From Current Price Level
$530 – Buyers – 3.45:1, -5.4% From Current Price Level
$525 – Buyers – 1.11:1, -6.3% From Current Price Level
$520 – Buyers – 1.84:1, -7.19% From Current Price Level
$515 – Buyers – 1.1:1, -8.08% From Current Price Level
$510 – Sellers – 2.04:1, -8.97% From Current Price Level – 200 Day Moving Average*
$505 – Sellers – 1.42:1, -9.86% From Current Price Level
$500 – Buyers – 2:1, -10.76% From Current Price Level
$496 – Buyers – 1.17:1, -11.47% From Current Price Level
$492 – Buyers – 1.96:1, -12.19% From Current Price Level
$488 – Buyers – 2.59:1, -12.9% From Current Price Level
$484 – Buyers – 1.28:1, -13.61% From Current Price Level
$480 – Buyers – 1.71:1, -14.33% From Current Price Level
$476 – Sellers – 1.04:1, -15.04% From Current Price Level
$472 – Buyers – 2.04:1, -15.75% From Current Price Level
$468 – Sellers – 2.34:1, -16.47% From Current Price Level
$464 – Buyers – 6:1, -17.18% From Current Price Level
$460 – Buyers – 1.95:1, -17.9% From Current Price Level
$456 – Buyers – 1.31:1, -18.61% From Current Price Level
$452 – Buyers – 1.08:1, -19.32% From Current Price Level
$448 – Sellers – 1.11:1, -20.04% From Current Price Level
$444 – Sellers – 3.45:1, -20.75% From Current Price Level
$440 – Buyers – 1.39:1, -21.47% From Current Price Level
$436 – Buyers – 5.63:1, -22.18% From Current Price Level
$432 – Sellers – 7.33:1, -22.89% From Current Price Level
$428 – Buyers – 2:0*, -23.61% From Current Price Level
$424 – Sellers – 1.36:1, -24.32% From Current Price Level
$420 – Sellers – 1.11:1, -25.04% From Current Price Level
$416 – Sellers – 1.3:0*, -25.75% From Current Price Level
$412 – Sellers – 2:1, -26.46% From Current Price Level
$408 – Sellers – 1.9:0*. -27.18% From Current Price Level
$404 – NULL – 0:0*, -27.89% From Current Price Level
Price Level:Volume Sentiment Analysis For IWM, The iShares Russell 2000 ETF
IWM, the iShares Russell 2000 ETF has not performed as strongly as SPY or QQQ as investors are skittish around the small cap index at the current moment.
Due to this, there are more support & resistance levels around their current price that may be retested.
The data below displays how market participants have behaved at each price level IWM has traded at over the past ~2 years.
$244 – NULL – 0:0*, +10.48% From Current Price Level
$240 – Buyers – 0.4:0*, +8.67% From Current Price Level
$236 – Buyers – 1.9:1, +6.86% From Current Price Level
$232 – Buyers – 1.18:1, +5.05% From Current Price Level
$228 – Buyers – 1.56:1, +3.24% From Current Price Level
$224 – Buyers – 1.06:1, +1.43% From Current Price Level
$220 – Buyers – 1.87:1, -0.38% From Current Price Level – 10 Day Moving Average & Current Price**
$216 – Buyers – 1.07:1, -2.2% From Current Price Level
$212 – Sellers – 1.24:1, -4.01% From Current Price Level – 50 & 200 Day Moving Averages**
$208 – Buyers – 1.55:1, -5.82% From Current Price Level
$204 – Buyers – 1.12:1, -7.63% From Current Price Level
$200 – Buyers – 1.44:1, -9.44% From Current Price Level
$198 – Sellers – 1.35:1, -10.35% From Current Price Level
$196 – Buyers – 1.33:1, -11.25% From Current Price Level
$194 – Buyers – 1.36:1, -12.13% From Current Price Level
$192 – Buyers – 1.24:1, -13.06% From Current Price Level
$190 – Sellers -2.7:1, -13.97% From Current Price Level
$188 – Buyers – 1.19:1, -14.87% From Current Price Level
$186 – Buyers – 1.42:1, -15.78% From Current Price Level
$184 – Buyers – 1.83:1, -16.69% From Current Price Level
$182 – Buyers – 3.36:1, -17.59% From Current Price Level
$180 – Sellers – 1.8:1, -18.5% From Current Price Level
$178 – Sellers – 2.2:1, -19.4% From Current Price Level
$176 – Buyers – 1.27:1, -20.31% From Current Price Level
$174 – Buyers – 1.68:1, -21.21% From Current Price Level
$172 – Buyers – 1.18:1, -22.12% From Current Price Level
$170 – Buyers – 1.24:1, -23.02% From Current Price Level
$168 – Sellers – 1.39:1, -23.93% From Current Price Level
$166 – Sellers – 1.27:1, -24.84% From Current Price Level
$164 – Sellers – 1.78:1, -25.74% From Current Price Level
$162 – Even – 1:1, -26.65% From Current Price Level
$160 – Sellers – 1.07:1, -27.55% From Current Price Level
$158 – NULL – 0:0*, -28.46% From Current Price Level
Price Level:Volume Sentiment Analysis For DIA, The SPDR Dow Jones Industrial Average ETF
DIA, the SPDR Dow Jones Industrial Average ETF is also near its all-time high, giving reason to tread cautiously in the near-term while awaiting it to break out definitively to the upside or downside.
The data below shed insight into how strong their support/resistance levels are when they’re approached & re-tested again.
$452 – NULL – 0:0*, +2.46% From Current Price Level
$448 – Buyers – 9:1, +1.56% From Current Price Level
$444 – Buyers – 2.72:1, +0.65% From Current Price Level
$440 – Sellers – 1.24:1, -0.26% From Current Price Level – 10 Day Moving Average & Current Price**
$436 – Buyers – 1.6:1, -1.17% From Current Price Level
$432 – Buyers – 1.88:1, -2.07% From Current Price Level – 50 Day Moving Average*
$428 – Sellers – 1.22:1, -2.98% From Current Price Level
$424 – Buyers – 3.7:1, -3.89% From Current Price Level – 200 Day Moving Average*
$420 – Seller s- 1.21:1, -4.79% From Current Price Level
$416 – Buyers – 1.24:1, -5.7% From Current Price Level
$412 – Sellers – 1.6:1, -6.61% From Current Price Level
$408 – Buyers – 1.27:1, -7.51% From Current Price Level
$404 – Buyers – 3.44:1, -8.42% From Current Price Level
$400 – Buyers – 1.5:1, -9.33% From Current Price Level
$396 – Even – 1:1, -10.23% From Current Price Level
$392 – Buyers – 2.1:1, -11.14% From Current Price Level
$388 – Buyers – 2.13:1, -12.05% From Current Price Level
$384 – Buyers – 1.07:1, -12.95% From Current Price Level
$380 – Sellers – 1.08:1, -13.86% From Current Price Level
$376 – Sellers – 1.41:1, -14.77% From Current Price Level
$372 – Sellers – 1.07:1, -15.67% From Current Price Level
$368 – Buyers – 1.8:1, -16.58% From Current Price Level
$364 – Buyers – 1.86:1, -17.49% From Current Price Level
$360 – Buyers – 2.57:1, -18.39% From Current Price Level
$356 – Buyers – 0.2:0*, -19.3% From Current Price Level
$352 – Buyers – 2:1, -20.21% From Current Price Level
$348 – Sellers – 2:1, -21.11% From Current Price Level
$344 – Buyers – 0.9:0*, -22.02% From Current Price Level
$340 – Buyers – 1.7:1, -22.93% From Current Price Level
$336 – Buyers – 1.42:1, -23.83% From Current Price Level
$332 – Buyers – 1.71:1, -24.74% From Current Price Level
$328 – Buyers – 1.74:1, -25.65% From Current Price Level
$324 – Buyers – 1.1:1, -26.55% From Current Price Level
$320 – Buyers – 1.22:1, -27.46% From Current Price Level
$316 – Sellers – 1.15:1, -28.37% From Current Price Level
$312 – Buyers – 1.1:1, -29.27% From Current Price Level
$308 – Even – 1:1, -30.18% From Current Price Level
$304 – Sellers – 3.2:1, -31.09% From Current Price Level
$300 – Buyers – 1.25:1, -31.99% From Current Price Level
$296 – Sellers – 1.71:1, -32.9% From Current Price Level
$292 – Sellers – 2.13:1, -33.81% From Current Price Level
$288 – Sellers – 1.45:1, -34.71% From Current Price Level
$284 – Sellers – 1.3:1, -35.62% From Current Price Level
$280 – Sellers – 2.29:1, -36.53% From Current Price Level
$276 – Sellers – 7.33:1, -37.43% From Current Price Level
$272 – NULL – 0:0*, -38.34% From Current Price Level
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN SPY, QQQ, IWM OR DIA AT THE TIME OF PUBLISHING THIS ARTICLE ***