US 30 ?Fake Breakout: Volume not Confirming

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Today's 400pt lift in Dow was unconfirmed by volume which declined as price rose. VOLUME DIVERGENCE violates basic Dow Theory:

The session volume in each day's trading reveals nearly all the session volume was traded before the thin air lift at the end of day.

A move against trend must be confirmed by increasing volume to be a true trend change, else it is merely a countertrend movement.

Expect this rally to fail and return to consolidate around price rotation area. Failure will likely lead to capitulation & panic-selling break down.

I could be wrong, but I'm buying a single put Wednesday to test my theory!

This is not investment advice, trade at your own risk and good luck!
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Another big lift on thin volume today with MACD divergence. A bull trap!?
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It's really breaking out!
Chart PatternscorrectionalmostdonecorrectionmovecorrectivewavecountertrenddowtheoryfakebreakoutTechnical IndicatorsTrend Analysisvolumedivergence

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