These results suggest there should be more upside to this bounce. Statistics across the board are impressive over the next week.
But does the low volume really matter? To answer this I ran the same study below but flipped the volume requirement and insisted volume come in higher.
Volume accompanying a move can signify enthusiasm for the direction of the move. Short-term oversold bounces sometimes remind me of junior high school girls. Back when I was in school, if you wanted a girl to like you then you had to make sure she didn't think you liked her. Showing any enthusiasm would scare them off quickly. You had to play it cool, man. It appears that is what the bounce did Wednesday - it played it cool, man. And now it's chances are better.