S&P 500: Market risk remains elevated

NYSE daily volume and short sales declined Thursday & Friday, indicating selling pressure is easing.

NYSE Daily Volume & Short Sales

There is no sign yet on the daily chart, however, with 21-day Twiggs Money Flow respecting the zero line from below. Breach of support at 1900 would warn of another decline. Follow-through below 1870 would confirm. Recovery above 2000 is unlikely at present, but would suggest that the correction is over.

S&P 500

Daily VIX indicates market risk remains elevated.

VIX

The market is closed Monday 7th for Labor Day.

NYSE Short Sales

NYSE short sales and daily volume are only published 24 hours after the close of trade, but are still a useful indication of where the market is headed. Short sales over 500 million on Monday, remain elevated. Keep an eye out for any increase above 600 million this week — which would warn of rising selling pressure and a likely breach of support.

NYSE Daily Volume & Short Sales