The Subsequent U.S. Bull Runs Are Weaker And Weaker

The chart below compares volumes reported during the last three bull runs in the American stocks (represented by S&P 500):

The first bull run, indicated in green, was made at growing volume.

The second run, in yellow, was made at unchanged volume.

The last run, in pink, has been made at decreasing volume.

According to the technical analysis, any strong trend is supported by volume. The chart above shows that each bull run, following the first one, was weaker than the former one. The last, ongoing bull run, has been the weakest one.