S&P 500 Update: Where's the Volume?

February 22nd, 2012

by Doug Short

The S&P 500 closed yesterday at a new year-to-date high, up 8.32% in the first 34 days of trading versus 5.59% over the same timeframe in 2011, which was also an excellent start to the year (one that finished flat).

But what about volume? I've posted comparisons with 2011 after the first 12 and first 24 days of trading. Here is an updated comparison after the first 34 days.

According to the data I downloaded from my Stockcharts.com subscription, the cumulative volume so far this year is 102.6 Billion versus 122.6 Billion in the first 34 days of 2011. That is a -16.3% decline.

Despite the continued superior performance of the 2012 year-to-date rally, but the trading volume doesn't offer strong confirmation.

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