Just further evidence of the sinister nature of this bear market rally...

USD Wobbling - VHF

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More Observations on NYSE Volume

Tyler Durden

May 7, 2009

I present below NYSE volume charts compliments of a reader who has noticed that unlike in the last 2003 "end of bear market" period, when New Highs and New Lows fluctuated constantly, indicative of broad buying and selling, the current rally which has brought 80% of all stocks above their 50 DMA, is much more indicative of very few people pushing trading at essentially the same price points as the New High/New Low has basically flatlined constantly from the March 9 lows. Absent the very wide trading range that stocks have experienced (filling the major overbought gaps?), there is very little that can immediately explain this very odd NYHL behavior. I welcome any feedback and rational observations.

Then:

click to enlarge: http://tinyurl.com/cjk9jg

And Now:

click to enlarge: http://tinyurl.com/cl6y6h

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Buying on Low Volume and Selling on High...Funny how that happens. NYSE volume on this red day is now 54% higher than the 20 DMA.

click to enlarge: http://tinyurl.com/cvsuxq