Dr. Bob ..... to be honest.... this
volume issue has had me confused for a while now.
I agree that high volumes (say 1.7 B) would confirm moves, particularly in the form of rallies (usually one or two day wonders).
What we are seeing now is a slow grinding upwards on much less volume. In either case, the effect is the same.... we eventually arrive at the same place (hopefully).
When the direction is somewhat fuzzy .... sideways, upwards, sideways, upwards, down a bit, ..... then volume does not seem to say much.
In sum, it appears that the big volumes tell us about big moves (particularly upwards, of late). But conversely, the absence of big volumes seems to tell us nothing.
What makes the market go up now? Short covering? Few buyers? No sellers? It's all very puzzling. What happened to the usual "lack of buying due to vacationing traders" excuse we usually get from the media around this time?
Baffled,
Joseph :) |
