Courtesy of Doug Short.
The S&P 500 is off to a great start for 2012, up 6.90% in the first 24 days of trading versus 4.23% over the same timeframe in 2011, which was also an excellent start to the year (one that finished flat).
But what about volume? I posted a comparison with 2011 after the first 12 days of trading. Here is an updated comparison after the first 24 days, double the timeframe.
According to the data I downloaded from my Stockcharts.com subscription, the cumulative volume of the first 24 days of this year is 73.30 Billion versus 90.54 Billion in the first 24 days of 2011. That is a -19.0% decline.
Despite the superior performance of the 2012 year-to-date rally, but the trading volume doesn’t offer strong confirmation.
