Dollar-Weighted Volume (DWV) is a short-term indicator. Generally the DWV and the price index run pretty close together, with tops confirming tops and bottoms confirming bottoms. What we look for are positive/negative divergences and for instances where volume doesn't confirm price, meaning that volume either leads or lags price. When this happens, look for a change in the short-term price trend. Right now we are seeing a divergence between DWV and price on the Dow Jones Industrials. Currently price is moving up faster than volume. This tells us that volume is drying up and support for the rally in the short term may be falling away.
You'll find the DWV charts in the DP Market Indicators ChartPack. It is in the "DPMI - 1040 - Dollar Weight Volume" ChartList and the chart I used above is "120 - DJIA Dollar-Weighted Volume (1-Yr)" chart in the DPMI - 1040 ChartList.
If you'd like to read more about DWV, here is a blog article that Carl wrote a few years back.