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Volume by Price Bars: Total Stock Market Index (by Leisa)

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Tough day in the market for bulls–even bears. Seemed like both were playing chicken today. Looks like the bulls swerved down a cliff towards the end. Below is a chart of the total stock market index.

[edit: I purposely chose the time frame from March of 2009 through now, because that shows the current volume by price profile of this important (countertrend) rally].


Snap23

The magenta represents the volume by price bars.  As you can see, we are in tricky territory.  We have dipped below the February 5 low.  The market is literally at the edge of a precipice here. I've no predictions about which way it is going to go.  It is reasonable to expect a bounce–but the news flow will need to be supportive of that.