The Meaning Of Teeny Volume

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Long-time Sloper LZ wrote me again tonight with some interesting charts, prompted by the fact that today’s volume the SPY was literally the lowest of the entire year. (And it isn’t because it’s a holiday – – not even one as awesome as Juneteenth!) Here we can see that, over the course of this bear market, super-low volume has tended to be linked to market tops, or at least extremely close to market tops:

Late December top
April top
June top

Today’s puny volume

And here’s the volume picture in general…………