December 7th After The Bell-On Balance Volume

On Balance Volume defined-Total volume for each day is assigned a positive or negative value depending on prices being higher or lower that day. A higher close results in the volume for that day to get a positive value, while a lower close results in negative value.^[2] So, when prices are going up, OBV should be going up too, and when prices make a new rally high, then OBV should too. If OBV fails to go past its previous rally high, then this is a negative divergence, suggesting a weak move

EDC-Emerging markets-prices higher, but OBV lower lows.

EDZ-Emerging markets bear-lower highs, but new high On Balance Volume. Again, no confirmation of rally.

SOXS-Semi Bear, again as prices pull in, smart money is stepping in and buying.

TQQQ-As the bull etf moves higher, OBV moves lower; not confirming the bull move. OBV shows smart money selling the rally.

Finally the fear gauge measure-VIX. As the market algos push stocks higher on every EU bs rumor, its clear smart money gets more and more nervous. As the Vix falls, money has zoomed in to buy protection.

Finally, per ICI fund flow data out today for fund flows over the last week, average joe American sold a whopping $6.7 billion from domestic equity funds: the most since the week after the US downgrade.

Tim Kathlina