The market rallied nicely on Friday but volume came in quite a bit below the previous few days. Strong up days on low volume have been creamed lately. A few recent examples would include 9/30, 10/13, 10/20, and 11/4. The table below shows results following all one-day gains of 2.5% or more that were accompanied by volume under the 10-day average.

Much more on this study was published in last night’s Subscriber Letter. If you haven’t yet trialed it then simply email QuantEdges@HannaCapital.com with your name and email address an I’ll send you last night’s Letter along with 3 upcoming ones.