Long-Term Volume Analysis

More new highs this week for the major averages as the market has started off July on a positive note. In my daily columns, I generally focus on the weekly and daily volume using my favorite volume indicator, the On Balance Volume.

In my monthly starc band analysis of the stocks in the Dow Industrials, I place quite a bit of emphasis on the monthly OBV as it often will lead prices higher. This, combined with positive relative performance analysis and keying on monthly support, can often create good opportunities.

The quarterly OBV analysis can also be helpful in confirming a major trend as well as warning one when a trend may be changing. As we end the quarter and month, I thought it was time to take a longer-term OBV analysis of these two key ETFs.

http://www.forbes.com/sites/tomaspray/2014/07/06/long-term-volume-analysis/