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Market technician Walter Deemer observes that market breadth is solidly positive, citing a 9-5 margin. However, he also highlights that upside and downside trading volumes are currently equal, suggesting uncertainty about market direction.
Deemer concludes that there may be underlying dynamics at play, but the specific cause is not immediately clear.
Deemer previously stated that a 66 percent downside day at 11:00 carried no market significance by Lowry’s definition, according to a prior analysis. He has also identified 657.03 as a key level for SPY, observing that an open above could generate a potential breakaway gap in recent commentary. These earlier assessments provide context for his ongoing monitoring of market breadth and volume signals.