The following is for judged the stock market and the ETF trading strategies.
Low volume on Friday the major indices were mixed. The Dow rose 0.1% in the weak end of a year of the stock market, S & P 500 index flat, Nasdaq, S & P MidCap 400 Index and the Russell 2000 index fell 0.4%, 0.7% and 0.8%. Overall, in terms of the stock market in 2010 was a good year, all the major indexes were double-digit gains.
Within the market were mixed on Friday, the Nasdaq Stock Exchange trading volume dropped 67.2%, while the New York Stock Exchange was heavy volume of 7.4%. However, still lower than the daily average of NYSE trading volume. NYSE advancing volume on Friday, and down volume ratio is 1.2 to 1, Nasdaq down volume exceeded declining volume and advancing volume ratio of 1.5 to 1.
Our current position in the PHO showed signs of further upside. PHO recent pullback to 20-day moving average shrinkage. If the end of the next price cut of the moving average, followed by a reversal candle line will further confirm this view.