From Trader's Narrative:
I first learned about the importance of extreme one day up vs. down volume in the mid 1980's, while studying Martin Zwieg's book "Winning On Wall Street".
In his book, Dr. Zweig suggested that any day when up volume leads down volume by a 9 to 1 margin is a sign of positive momentum for equities.
He later points out that having two such occurrences in a short period of time is very bullish...
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