Updating the 2003/2004 to 2009/2010 comparison with SPY, we see that 2010’s first major correction arrived about a month earlier than 2004’s. So far the 2004 absolute high vs absolute low is very close to 2010’s at 9.38 vs 9.17 points and the percentage drop-offs are very similar at 8% vs 7.9%. The volume curves are also looking very similar with the averaged normalized volume in 2010 climbing rapidly. I haven’t looked at other years–I sure that it is typical to have volume drop-offs during the year end holidays, but I suspect these particular volume drop offs were more pronounced than normal.
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