Volume–Volatility Relationship by Mike B. Siroky, MD
Volume can tell plenty about what to expect in the market. It may be worth your while to keep an eye on what volume is doing. On its own, it's an all-powerful indicator. Combine it with price movement and time, and you may get a trading edge.
Technical analysis is concerned with only three fundamental quantities: price, time, and volume. Most traders understandably focus on the relation between price and time and pay relatively less attention to volume. However, volume is an integral aspect of stock price movement so it is useful to carefully study the information it provides ...