medium · Volume Spread Analysis effort-vs-result-spread

A stock is rising on expanding volume and wide spreads. It hits a level where the next three bars have very narrow spreads but the volume remains ultra-high. The closes are all in the middle.

What does this 'result' suggest about the 'effort'?

  1. This is 'no demand,' suggesting that professional operators have essentially finished their mark-up phase.
  2. The trend is strengthening because the high volume shows everyone is now actively participating in this powerful move.
  3. The market is quietly 'absorbing' the supply here and will likely surge higher once sellers are exhausted.
  4. The 'effort' to rise is being met by 'hidden selling' or supply entering, indicating the end of the rising market.

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