40) On balance volume is useful as a) A coincident indicator b) A divergence indicator c) A means of clarifying volume trends d) All the above 41) Which statements are true? 1. heavy volume on reactions/light volume on rallies indicates accumulation 2. heavy volume on rallies/light volume on reactions indicates distribution 3. heavy volume at the bottom of a trading range accompanied by light volume at the top of the range indicate accumulation 4. heavy volume at the top of a trading range accompanied by light volume at the bottom of the range can indicate distribution a statements 1 & 2 B. statements 3 & 4 c. statements 1 & 4 d. all the above statements are true 42) Which of the following is not a primary application of technical analysis a) identify trends establishing price targets c) quantifying volatility d) identifying turning points 43) Which of the following is not a tenet of the Dow Theory? a) markets discount everything A trande enn reverse at any time