21 replies to this topic

[tradesurfer]

I have been watching the volumes on GLD and I am going to offer a different take on the fact that the volume trend of the past 3 days has been very low and trending down... My take is that this is a signal that final sellers are being weeded out before a high volume spike that causes us to breakout... That low volume near the end of this entire structure could be interpreted as very bullish IMO. (because keep in mind we have been in a downtrend for many months and the whole pattern is a downtrend)

[uncleharley]

We don't have enough history to make this explanation stick, but we might be looking at a seasonal phenomenon. Volume was low at this time last year also, but GLD didn't take off until the last 1/2 of august. I'm not arguing, just pointing out a possibility. uh