Equity market throws another victory party however poorly attended by the bulls

The U.S.equity market throws another victory party however it was anemically attended by the bulls. CNBC and their band of hallucinogenic mushroom eating pundits routinely ignore party attendance given the level trading volume. July 26, 2010 was another great day for the mushroom munchers as the S and P 500 closed above its 200 day moving average. This psychological (shroom influenced) level was exceeded on the 7th lowest trading volume since 4/1/2010.

There have been 80 trading days since 4/1/10 and 5 of the top 10 lowest trading volume days have occurred in July 2010. The top two lowest trading volume days also occured in July (July 12th and July 9th).

Since Ben Bernanke 's "unusually uncertain" comments on July 21st, the S and P 500 has launched 45.42 points (4.2%) in 3 trading days or 19.5 hours of trading. This 3 day launch of the S and P 500 occurred during the 7th, 14th and 17th lowest trading volume days since 4/1/10.

Imagine the equity market launch if Ben Bernanke was certain about his green shoots. Maybe if CNBC sent one of their coffee mugs filled with shrooms to Ben, he too would attend the party.