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> From: charles meyer <chmeyer@xxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: VOLUME DISCUSSION ANYONE?
> Date: Friday, October 30, 1998 10:30 AM
>
> Anybody else have anything relevent to post on
> this subject?
>
I agree with your post on volume. The changes in volume during rallies and
reactions of the cash s&p, dj30, and nasdaq are very subtle. Wyckoff
teachings say that during accumulation, look for heavier volume on rallies
and less comparative volume on reactions. I believe that there are just so
many daily crosscurrents in the market these days, making volume harder to
use as a daily indicator.
To me, a great example of volume analysis was the retest of the lows on the
Dow from Oct 1st to Oct 8th. Three of those days had extremely heavy volume
giving up little or nothing to the downside. This suggests demand
overcoming supply at a very important support level, I might add. To be
honest, I missed the bottom although it was staring me right in the face; I
put too much weight in the broader indices and the AD Line.
Curt
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