WHY PRICE FIRST…VOLUME SECOND!
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Ever since the current bull market began in early 2009, the most oft-cited criticism is that volume has been weak. Even the most casual market observer has heard the complaint that rallies on light volume are unsustainable, and in effect, don’t count. The argument sounds good in theory, but followers of this logic would have essentially missed out on what is now the ninth strongest and longest bull market (and more) in the history of the S&P 500.
SOURCE: https://www.bespokeinvest.com/thinkbig/2012/8/27/a-low-volume-bull.html
https://www.box.com/s/a881546eaf3709235c02
https://www.box.com/s/b7a0148f6c48ad22984d
Gary, take a look at the chart data at the links above. We’re aligned with the early 1970s, the late 1930s to early 1940s, 1910s, and 1890s (and Japan in the early ’00s).
We have a long way to go in time and price for this secular bear market, my friend.
The secular bear market won’t be over until you, your clients, and most of your professional peers throw in the towel on stocks; however, you won’t do it by choice, but rather because your clients will pull their money as so-called investors did in the mid- to late 1970s, 1930s-40s, and 1890s, and in Japan after ’98.