Chart of the Day: Nothing Panicky At This Point

While 500ish points of Dow downside (yesterday and so far this morning) is an attention getter, at this point, it’s been pretty blah.

The chart below shows today’s volume (white line) versus the 20-day moving average (blue). The dotted line projects the day’s volume based on the current pace, I circled where it sits at the moment (30% below average):

This morning’s action can, thus, at this point, be chalked up to disinterested buyers, as opposed to panicky sellers. 

Clearly, traders are anticipating something from Washington to counter yesterday’s negative U-turn on the trade talks. If it doesn’t come today, we could see volume pick up markedly into the close.


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