Not sure about volume on an intraday basis....but a move on high volume may indicate followthru. Anyone familiar with the work of Mark Leibovit, the Volume Reversal survey? I used to follow his work and found it interesting.
For the eminis, I will usually close some of a winning position with an equal or higher price peak (for longs) on lower avg volume. Likewise for shorts on a lower price peak on lower avg volume.
I gotta say once I began adding volume analysis to my system, its profitability has improved considerablyâ¦todayâs has been the best day since I started the thread and began the analysis â caught the market top and made four percent (without leverage). I definately perfer A/D to OBV.