Thanks guys @gypaetus "As to the buyers and sellers, if price is moving upwards on low volume then there is no selling pressure, if price is moving down then there is no buying pressure." "Just remember that that's for low volume. When the volume is high and price moves up you have buying pressure and when it moves down there is selling pressure." This is the part that I am learning. "And in all instances you have to look at the spread and the close, there are far more subtleties and nuances than those simple sentences but they're useful for starting to understand." I had an order at 32 on CNB all day yesterday after refusing to buy the open. It sat there all day and the stock dropped to 32.5 a couple of times but refused to go lower. Towards late afternoon there were 1.5mil bidders v. 120k offers when a 90k offer came in at 34.5. I thought that would slow things up a bit but no it was taken in two or three bites almost instantly and the offers were back to just 120k. That was my cue to up my bid to 35 as I knew there was buying pressure. It was in the last couple to go through at that price, closed at 37.5. In a basic, ideal world you would have rising volume on rising prices with rising spreads on a daily basis. This is virtually what happened with CNB this week. So, what happened here with this dramatically falling volume on the second breakout bar? Lack of buyers or sellers? And then even less volume with the third spinning top which I would take as bearish due to lack of conviction by buyers and sellers and the first lower wick in 3 days.
