AMEX:DIA   SPDR DOW JONES INDUSTRIAL AVERAGE ETF
18 1 1
The price action for the day looks very bullish .
Today there was news about a downed Russian plane, and the market gapped down.
But oddly, the market made a strong move up through the day closing above the open.

However I'm going to try to use my volume analysis skills to use, and I see "somewhat" a different story.
I'm not sure if the first 15 move up is an anomaly, the volume doesn't look that high, and it was a strong move higher.

However at 8 there was a large move up with low volume , then an even larger move at 8:15 with avg volume , and then a small move closing at half the spread (a long top wick) with extreme volume .
The volume doesn't match the price action in all 3 moves, so this should be considered an anomaly. Prices are forced higher to sell at a higher price range.

However prices continued to climb higher, and then in the last 45 minutes we see increasing volume with the down moves.
I'm not sure how to read this.
In a bullish point of view, this looks like stopping volume . The last 2 have long bottom wicks. The volume for the 2nd to last candle is higher than the first, but spread is tiny. Same for the last candle.

However in a bearish point of view, the long wicks with increasing volume are the potential moves down. It shows there are large numbers of sellers available. In the end of accumulation, they would be tests of no supply, and the increasing volume showed there is supply, thus the test would fail.

I may be biased because I have existing short positions, but the move up at 8:00-8:45 looks like an anomaly, a forced price increase, and the last hours 12:15-1pm is a hint of supply waiting to be distributed.
rlim
a year ago
snapshot


In the 5 minute time frame, there is higher volume on the down moves than the up moves (minus the last 5 minutes).
In the middle of the down moves, the highest volume is a doji, indicating uncertainty, but resumed down the next candle but with lower volume.
We then have a gap up recovery on half the volume (an anomaly), then increasing volume on the moves back down.

The large move back up on the last 5 minutes with extreme volume. I am not sure if the volume matches the candle, because the spread is the same size as the 12:35 move down, but volume is 3-4x as much. But because it is the last 5 minutes, this is expected?

In a bullish point of view, the big players were successful in bringing down prices and are accumulating all the shares at lower prices.
In a bearish point of view, there was a huge struggle pushing prices up, foretelling future selling.
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