Dow Theory.

Charles H Dow was the inventor of the dow theory.
Its the first system of forecasting the market trend with the help of price and volume.
Getting a daily chart of 2 years data we have to mark the major tops and bottoms as Higher top ,Higher bottom and lower top, lower bottom,
HB and HT is a sequence where idf the volume is high then the trend will be bullish .LT and LB is a sequence with a high volume its a bearish sign and can go for short position by considering the previous bottom as entry level.
Dow theory is for deriving and understanding the market trend not the price behavior.Dow theory is reliable only for positional trading duration of 2 months .
Its not helpful for Intraday.