NEW YORK (TheStreet) -- After three straight up days Friday saw a selloff that was on increased downside volume.
The S&P 500 Trust Series ETF (SPY) volume came in at 76 million shares. That was much higher than the 3 proceeding up days. Where have you heard this before? On up days the volume is decelerating and on down days the volume is accelerating. Just not the way a bull market is supposed to be acting.
The DJIA was down 123.23 points to close at 16960 and the S&P 500 was down 9.64 at 1978.34. The Nasdaq was lower by 22.54 to close at 4449.56 while the Russell 2000 was down 1% to finish at 1144.72. The Russell 200 Index is now down 2% for the year to date. Now that is a sure sign of a stock market that is not quite in bull mode.
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