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

Monday, October 10, 2011

Chart Watchers See Upbeat Turn

In recent years, they have sounded the alarm over everything from "death crosses" to "Hindenburg omens," warning of a dire future for the stock market.

Now, several of Wall Street's technical analysts—the stock-market geeks who scour charts for patterns and clues to future market moves—have some good news for the bulls.

They say trading in the past few days suggests the U.S. market may have reached a bottom early last week, and that stocks are destined to move higher.

They point to the moves on Tuesday in particular, when major stock indexes were lower for much of the day before ...

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