{"title":"投资基础-第二十五期成交量与牛熊周期","authors":"D. Joubert, A. F. Mason","doi":"10.1080/10293523.1992.11082309","DOIUrl":null,"url":null,"abstract":"ABSTRACTFour basic assumptions on the relationship between market behaviour and price action enable a descriptive model of changes in turnover during a complete bull-bear cycle. It is found, contrary to common wisdom, that an increase in volume does not necessarily confirm the ruling trend. Instead, when turnover begins to increase following a period of sustained rising or falling trend, it may well signal the end of that trend. This fact can be used to anticipate changes in the trend.","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"2014 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"1992-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":"{\"title\":\"Investment Basics-XXV Volume and the Bull-Bear Cycle\",\"authors\":\"D. Joubert, A. F. Mason\",\"doi\":\"10.1080/10293523.1992.11082309\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"ABSTRACTFour basic assumptions on the relationship between market behaviour and price action enable a descriptive model of changes in turnover during a complete bull-bear cycle. It is found, contrary to common wisdom, that an increase in volume does not necessarily confirm the ruling trend. Instead, when turnover begins to increase following a period of sustained rising or falling trend, it may well signal the end of that trend. This fact can be used to anticipate changes in the trend.\",\"PeriodicalId\":126195,\"journal\":{\"name\":\"The Investment Analysts Journal\",\"volume\":\"2014 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"1992-12-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"2\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"The Investment Analysts Journal\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1080/10293523.1992.11082309\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"The Investment Analysts Journal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1080/10293523.1992.11082309","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Investment Basics-XXV Volume and the Bull-Bear Cycle
ABSTRACTFour basic assumptions on the relationship between market behaviour and price action enable a descriptive model of changes in turnover during a complete bull-bear cycle. It is found, contrary to common wisdom, that an increase in volume does not necessarily confirm the ruling trend. Instead, when turnover begins to increase following a period of sustained rising or falling trend, it may well signal the end of that trend. This fact can be used to anticipate changes in the trend.
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