![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhFGM56HYMyysrGGFtfOdKvKsdez4LAvaIFiVd-o7f-iIJ6O0ewNX9cugoIg0y-beorg137wUhK6CFl8IVHZxBUpUrGujwQKkdI9m86EqUXIPBg7iyFV5uHnBf0VRxJGmh_KltB/s320/ES020510b.gif)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7vQns7WLMJ7OGiVDYhwbcFDAj0GhE9TZEv7iukTOvB5ESS55OHBmWGF57PpeJ70txMIejjRxLyIYsa9v_1wsla1LEVnIhZuY9JvNi8xvrT6tj0tlYVXaCW01_ZCqbw1u1LMtc/s320/RelativeVolume020510.gif)
1:59 PM CT - I've added the above chart to show how the enhanced volume did indeed lead to a downside break and range extension. In general, we can expect breakout and trending trade when relative volume is running quite high. We've made over 1600 fresh 65-day lows across the NYSE, NASDAQ, and ASE thus far today, suggesting once again that the intermediate term downtrend is intact.
With relative volume running well above average during a range trade, I am alert for the possibility of a breakout trade and range extension. Cumulative TICK should point the way toward whether or not we'll make that break; I'll be updating this briefing later in the day for additional perspective.
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