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

Saturday, September 17, 2011

Market up for 5th day, but Europe issues linger

NEW YORK (Reuters) - Stocks rose for a fifth day on Friday on hopes Europe was on course to solve its debt problems, but investors warned of sharp reversals if real solutions failed to materialize.

Treasury Secretary Timothy Geithner urged EU finance ministers to leverage their bailout fund to better tackle the debt crisis and to start speaking with one voice, but there was no agreement on what steps to take.

"There are still a lot of open-ended issues out there, which means this situation will remain pretty fluid," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. "All of what we just gained in the last five trading sessions could be given back."

On Thursday stocks rallied as the world's leading central banks agreed to boost short-term dollar funding for banks, easing investor fears about the European financial system.


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