Sorry Mr.Brandt, I Disagree

from Mr. Peter Brandt..."As shown on the charts below, the volume on the rally that began in late December has been on incredibly light volume. Volume always dries up around Christmas and New Years, but then expands immediately in January. Not this year. As shown on the weekly chart (top), we have six consecutive weeks in Nasdaq futures with volume below 900,000 contracts. We have to go back to the decline in 2001 to find volume as light.

There are all kinds of theories being advanced to explain this volume. Let me advance a theory based on a common understanding of basic technical principles:

A market moving into new high ground on light volume MUST NOT be trusted. While one cannot fight price action itself, the facts that the market is reaching serious overbought readings on such light volume is NOT a constructive situation.

It is worthy to note that the same contraction in volume is occuring in the ETFs such as $QQQ. So this is not a matter of volume moving from futures into the ETFs.

I have labeled the Nasdaq 100 as an inverted continuation H&S pattern. I am removing this label. Classical chart patterns must comply with both form and volume rules. This inverted H&S pattern is violating the volume rules and therefore must be delisted.

http://peterlbrandt.com/contraction-of-volume-in-stock-market-is-not-good-news/

Here is the problem...He is living in the past where VOLUME did matter...today no one but institutions are in the market...Hence the lighter volume...This is a new paradigm and the market can rise as long as the dollar keeps getting devalued...