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Strategies & Market Trends : Strictly Buy and Sell Set Ups
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To: Zincman who wrote (13336)6/27/2008 7:39:27 PM
From: chowder  Read Replies (1) of 13449
 
You don't need a specific amount of volume to determine if price will head up and break through. All you really need to see is increasing volume. You want to see that the recent buying volume days are higher than the recent selling volume days. Increased buying is what you need.

Now, on a break out to new highs, you want to see volume at least 50% above average. This will often times confirm that a new leg up is coming.

You won't see this type of volume unless institutions are buying. The retail trader or investor isn't inclined to buy break outs. They have been conditioned to think that buy low and sell high means you buy after a significant price pull back. So, the retail trader isn't behind high volume break outs. Institutions are. And, institutions usually have to build significant sized positions so, you can expect price to continue higher as they add to their positions.
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