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To: jackhach who wrote (9071)	4/16/2003 4:17:56 PM
From: Steven V	Respond to of 13797

Jack, Heavier than average volume can mean many things, depending on the direction the volume is pushing the stock or index. Lighter than average volume tells the same tale. Unless, of course, the heavy volume is pushing the stock every-which way which is capitulation which is a nice bottoming sign. But either way, we aren't seeing heavy volume here. If I saw heavy volume break out the SP upwards and hold above 900, with lighter volume on the pullbacks, it would mean new money/players have entered the arena and would signal a time to pull shorts and go long, or at least go to cash. I'm confused about what you mean when you say that heavier volume would occur at a top, unless of course you are talking about it occurring on a key reversal day where the heavier volume takes the markets lower. Heavier then usual volume will tell us one of two things; we are either at/near a bottom (beit short or long term) or that we are near a TOP.