im waiting out the earnings reports...i havent seen many good setups this week.Volatility is more mellow this week.
That's part of "it". The other part can be that too many people/traders/investors have finally been washed out at the bottom and fewer people are remaining to move the market.
I think because people cant seem to find which direction this market is going is why volume is lower than normal, especially yesterday on that 400 point run up, there hasnt been a follow through.