Volume almost hit average and prices soared as the major indexes pushed into a new trend today.

Once again, I would have liked above average volume, but I’m happy with increasing volume from yesterday. This puts today as an official accumulation day and for me counts as a follow-through and up-trend confirmation.

Here’s a chart:

The previous trend is marked in light blue and it is easy to see how we have now started a new trend.

Now be sure you understand that this doesn’t mean that we are going to see stocks rocket higher for sure. It just means that we may go up for a little bit. We don’t know how high or how quickly.

One caution about the price range today is that the volume should be larger to support this big of a move. Just a minor concern as I still think stocks are reacting from Friday’s volume, but something to consider.