Three main types of volume-activity I need to test to see if they are right.
1.Increasing volume during an advance, with the intervening pauses or setbacks occurring on light volume. Ths is indicative of the underlying demand's being greater than the supply, and favors a resumption of the advance.
2. Increaded volume at the top of a rally, or of an advance, lasting for some time, with no appreciable gain in prices- an active churing of stock transactions without progress. This is indicative of a turning-point.
3. A"tired or strugling, advance when stocks creep upward on light volume and "die" at the top. This indicates a lack of demand(few buying-orders); and, selling orders likewise are light this action frequently marks a rounding-over turn which may be followed by increased volume on the down side. These struggling trends are subject t sudden reversals, particularly when they have endured for several days.
