In his book “Winning on Wall Street,” the legendary Marty Zweig explained the value of volume ratios. A ratio of 9:1 or greater of up/down volume is considered to be very bullish and 9:1 down/up volume is considered to be very bearish. On Friday we hit 9:1 Up:Down volume: Almost every bull market and 10% S&P advance has started with this indicator. This does not mean we have started a new bull market, but for now this first bounce appears to have a little more gas.
Zweig up/down bottoming indicator triggered
