Just making a point, hopefully you can put it in your toolbox

So looking at today's close, the SPX -0.27%, the NDX up 1.81% yesterday and +0.16% today, the Dow-30 down -0.31% and the R2K -0.72%.

All in all, it's a mixed day, but no where near yesterday's returns and today was the last day of window dressing. You might think the market would put in some follow through off yesterday's strong moves and you might think the last day for window dressing might do the same. I try to put out as much useful information as possible, meaning stuff that in't just analysis, but stuff that you can use in your own tool box.

So I wanted to remind you of something I mentioned last night in the market internals because this is the second time in a week that this has happened and only the second opportunity for it to happen so in essence its 2 for 2.

Here's what I wanted to remind you of so that you may use it in your own analysis.

From yesterday's "EOD Wrap" (EOD=End of Day),

"I won the board election last night in out community!" Sorry, I'm just kidding, although I did win which I may regret.

"Today's market action came on lower than avg. volume (NYSE 755 mln, vs. 802 mln avg; Nasdaq 1560 mln, vs. 1727 mln avg), with advancers outpacing decliners (NYSE 2302/743 Nasdaq 1955/605).

The high ratio of advancers/decliners can often create a quick overbought condition, we saw something last week like this as well. By quick, I mean generally the next day or so there's a reaction the other way. We also see this when the Price/Volume relationships are very dominant.

The only dominant P/V relationships today were in the DJ-30 and the SPX."

So this is only the second time in the last week that we had and advancers/decliners ratio of at least 3:1 in the market's internals. We also had 2 dominant Price/Volume relationships.  While this has nothing to do with market analysis beyond today, you can see that the extremes in both internals did create a 1 day overbought condition to which the market responded.

I've been watching dominant Price/Volume relationships for years and they are a good measure of what you can expect the next day when they reach extremes. So it was kind of a passing blurb in an otherwise lengthy post and I just wanted to remind you of this tool that you can use and apply to your own analysis.

If you are running Telechart, I can help you set up the Price/Volume relationships and if you are running Stockfinder,  I'm pretty sure I have a layout that will give you the 4 P/V relations for all 4 major averages so you can view them.