its possible that the lack of volume spikes in 08 vs 07 is due to the fact that the big money is in the commodities,commodities vs equities,like dow vs russell, so you may not see your volume spike
mak, if you look at the volume spikes above your red line on the chart you posted,they are all preceding or at a bottom. I don't know what strategy they will use,but for the u.s. to pull out of this financial noose ,,their only chance is too lower the price of oil,so a short oil ,long spu's play here with a smalll position will pay off big or a small loss
Looking for a 3-400 point one day sell off down to the 10700 level for the long anticipated and much talked about bounce to materialize.
INDU & SPX stochastics is moving upwards while the index moving downward. Its called BULLISH DIVERGENCE and when that happens the inedex moves in the direction of the indicator- which in this case would be BULLISH. Read further on BULLISH and BEARISH divergences in Bulkowski's chartpattern book for refrence.