Implementation and validation of an opportunistic stock market timing heuristic: One-day share volume spike as buy signal

William Leigh, Russell Purvis
2008 Expert systems with applications  
This paper presents the results of simulated trading on long time series price and share volume data for the Dow Jones Industrial Average and Standard and Poor's 500 Index. Robust and systematic results demonstrate strong support for the effectiveness of the market trading heuristic of buying when one-day share trading volume spikes. Implementation of the methods is straightforward and may be readily accomplished with spreadsheet technology for decision support applications.
doi:10.1016/j.eswa.2007.08.063 fatcat:b4mxpae5dfa43oqouy7dyqrkvm