Up move cycle
stage 1: follow-through ( price up , volume up - smart money join in but soon will be some retracement or consolidation depends on the selling presure)
stage 2: resting or consolidating ( price down slighly and volume down )
stage 3: public join the late move and wholesale are selling
stage 4: reversal ( price up quickly, volume still less -- speculators hesitate then decide to join - volume up quickly )
Down move cycle
stage 1: follow-through ( price down and volume up )
stage 2: resting or consolidating ( price up and volume down)
stage 3: public join the late move and wholesale are buying
stage 4: reversal ( the volume drys first , no more sellers!!! then price and volume increase again)
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