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Off-Balance Volume

"Buying" versus "selling" volume has diverged dramatically in the last few weeks as AAPL-buyback-driven exuberance has lifted US stocks to record-er highs (amid record selling from insiders). We've seen this pattern before but that time The Fed was neck deep in QE3 and Janet was proclaiming everything was awesome (with a dovish reassurance that they'd keep pumping)...

 

 

Volume divergence suggests the S&P could drop below 2,000... perhaps that is what The Fed needs as an excuse top prolong their decision. Equity bulls are caught between a BTFD rock (where rates will rise and lead to equity weakness) and a FOMO hardplace (where they sell now and hope that 'stimulates' The Fed to keep lower longer).

 

h/t @Not_Jim_Cramer