yep that is right Cabbie, however that excerpt from Tom Williams is about a gap up on weakness (with serious selling already in the immediate background).
RXP does not have this weakness.......if anything, with that large deep shakeout in the near breakout, there is potential strength in the background of the chart.
So in fact it is a gap up on potential strength, not weakness.
In this case, a gap up on potential strength, is usually a tactic to trigger the greed emotion in shareholders, by encouraging potential sellers (who are waiting above the current price, and usually holding at a loss), to hold on to their stock with the promise of higher prices, instead of selling (as they had planned).
I also sometimes see this tactic used as a false break above resistance, perhaps in this case it is a test to find out just how much supply will be drawn out when price moves above a certain level or resistance zone. And if a lot of supply is drawn out, then further work will be required below that level, in an effort to remove this supply waiting above, and if supply is light, a more serious attempt at a breakout is potentially on the cards in the near future.
I do note that while price jumped up and over the potential resistance line on increased volume, it did not get knocked down very far.....and it would not take too much more to keep going and mark it up from there.....
Just be aware that yes those three individual bars you marked were "potentially" no demand bars.
But when put into context with the overall chart, there is no weakness already in the immediate background, and no downside follow after any of those bars to confirm them, so really....they have to be something else......perhaps you could name them "fake no demand bars", or something like that.......
In my mind they were just bars which floated up on low volume, because there was a lack of selling pressure at the time.
