Notice the change in volume?

lmkwin

On the Nasdaq Composite there was a dramatic change in volume when the "lockdowns" started. It has persisted for 3 years now. The other major indices didn't have this kind of pronounced and sustained volume profile change.

Chartstyle is Arms CandleVolume. The candle width represents the relative volume for the period based on the total chart period.

markd

Does look unusual. Were there splits? new issues? hedging instruments that might increase trading activity?

I found this with a DuckDuckGo search on "nasdaq volume increase"

https://www.nasdaq.com/articles/what-is-the-real-trend-in-volumes-2021-09-09

Sofearnot

@lmkwin @markd https://fred.stlouisfed.org/series/M1SL

https://tradingeconomics.com/united-states/money-supply-m1 <--Select 25 Year and max

Sofearnot

2020 M2 https://fred.stlouisfed.org/series/M2SL

and This one (different)

lmkwin

M1 didn't have the same effect on the SPX or NYA volume. Things spike at inflection points, but Nasdaq has maintained a higher baseline. Of course this all assumes the data points are apples to apples and there wasn't a change in composition of what is included that wasn't before.

Sofearnot

Yes, you are right. It Could be that the Nasdaq's Market Cap is only 200 B Compared to S&P's of $44 TRILLION and Even the Djia at 10 Trillion's

Money goes to Nimble companies during a Still Low-rate environment

Nasdaq volume Surged into- (and at) the 200 day m.a.

Since then, the Weekly Vl has Dried-up {for the last month or two} on the Nas. even as the Price surges And the Adx has reached Capitulation Levels

Sofearnot

You are right into early February, nasdaq's volume was quite high and Pronounced

Sofearnot

Nasdaq's +DI Generally does not stay at Current Levels, for more than a week

markd

I think the article linked in my previous comment suggests the advent of commission free trading and the covid lockdown elevated retail trading, which goes mostly to NASD. Seems plausible. Other possibilities might include meme stocks, hedging strategies involving options, or increases in HFT activity - in any case, an increase in short term technical or news oriented trading vs. long term investing.