Stock market rallies are dependent upon volume for confirmation. The trend may appear good on the surface as the market rises, but if the rally is driven by only a few stocks — or light trading — many will believe it’s not real.
Once technical analysts see enough volume and breadth to confirm the direction of the market, they see it as confirmation that the surface trend has staying power.
With Patrick Mahomes lighting it up and getting the team off to such a fast start, the Kansas City Chiefs have been among the most talked-about teams in the NFL.