[Anonymous]

Yes, we would call that a buying climax. While the bar closes on its high with high volume, the next bar is down. If that bar did represent demand then the next bar should not be down. Thus, Professional Money must of been selling into the buying (supply swamping demand).

The close is one way we gage "what has been done on x amount of volume". I don't know if you can be so quick to dismiss it. Moreover, and from a non-VSA point of view, the close is the last agreed upon price for that time period. So it is important. Remember, the market exists to find that point where there is a disagreement of value and an agreement on price.