這個更bearish, sp 下周test 7 月low,9-10 月test 3 月low

送交者: 大胖子吳征 於 August 11, 2009 12:36:29:

Declining S&P 500 volume's a bearish signal: technician
NEW YORK -- A sharp decline in trading volume on the Standard & Poor's 500 signals a looming test of last month's lows, with the widely followed equity benchmark then destined to fall under its March low, says one U.S. stock market technician.
The decline in volume started on Friday and suggests the S&P 500 /quotes/comstock/21z!i1:in\x (SPX 994.92, -12.18, -1.21%) will make a new low beneath its July 8 bottom of 869.32, probably next week -- on the way to a test during September or October of its March 6 intraday low of 666.79, said Tony Cherniawski, chief investment officer at The Practical Investor LLC.

"In a normal breakout you get rising volume. In this case, we had rising volume for awhile, then it really dropped off last week," said Cherniawski, who ascribes the recent rise in equities to "a huge short-covering rally."

In Tuesday's action, the major U.S. equity indexes all fell for a second straight session, with financials pacing the losses.

The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (INDU 9,245, -92.57, -0.99%) recently fell 115.47 points, or 1.2%, to 9,222.48.

Making bigger losses, the S&P 500 shed 14.10 points, or 1.4%, to 993.00, while the Nasdaq Composite /quotes/comstock/10y!i:comp (COMP 1,968, -24.27, -1.22%) dropped 29.22 points, or 1.5%, to stand at 1,963.02.