Profits in the Stock Market (Gartley)
A Classic collector's item Gartley, shares his knowledge of such topics as major, intermediate and minor trends, tenets of the Dow Theory, Triangles, Moving Averages, Gaps, Volume of Trading, Breath-of-the-Market, Figure Charts, Selecting the right stocks plus detailed instructions on trading with price oscillators. For the first time, this valuable work is available in hardbound edition, complete with all of the original charts.
Through long experience, it is generally conceded by technical students that:
1. When a volume trends to increase during price declines, it is a bearish indication.
2. When volume tends to increase during advances, it is a bullish indication.
3. When Volume tends to decrease during price declines, it is a bullish.
4. When volume tends to decrease during price advances, it is bearish.
It is important to note that the above definitions or premises are concerned with the changes in volume. They do not refer to volume at any particular level.
NUMBER OF SHARES FLOAT. BULL OR BEAR MARKET
VOLUME AND THE FOUR TRENDS
1. THE LONG TERM TREND: Both growth and earnings lead to higher PE.
2. MAJOR TRENDS: The entire group is moving up due to innovation as in technology.
3. INTERMEDIATE TRENDS: The entire group is down due to political uncertainty.
4. MINOR TRENDS. All the banks are down due to Long-term Subprime Loan problems
BX Daily, Weekly and Monthly volume is on the rise so is the price.
Price X Volume = Momentum is on the rise: Relative Strength = 89