Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Wednesday, April 27, 2011

Stocks Jump to New Highs


NEW YORK—Stocks powered to fresh multiyear highs, boosted by consumer optimism and strong earnings from industrial heavyweights.

The Dow Jones Industrial Average soared 115.49 points, or 0.9%, to finish at 12595.49, a fresh three-year high. The Standard & Poor's 500-stock index rose 11.99 points, or 0.9%, to 1347.24, while the Nasdaq Composite added 21.66, or 0.8%, to 2847.54.

The broad advances put the S&P 500 at its highest point since June 2008, while the Nasdaq Composite is just several points off a 10-year high. The Russell 2000 index of small-capitalization stocks, meanwhile, rose 1% to 853.04, a few points from its July 2007 record close.

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