today it was even lower than usual... P.S. I just checked... I don't see much difference within the volume before and after June... except for few weeks in March 2009.
low volume usually means lack of interest from people that matter, it could be no demand or a test of supply, a pullback after a move up or down.... it could even mean strength or weakness, but you dont look at low vol in isolation.. wheres price come from, wheres it going ? we come from down or up? If its no demand then you have to see weakness in the background its no good looking at a low voulume bar on its own and saying theres no demand, price is going lower..... so look at the bars, the spread of the bars, volume, the close of the bars its all relevent, and like I say where price has come from and wheres it going, is there strength or weakness in the background its a big puzzle and you have to put it together
Volume is a measure of participant agreement. When there is agreement to voume is high. When there is disagreement the volume is low. Participants are owners of market interests and market instruments. Participants are also people with cash. Owners play the "old" role and cash plays the "new" role. What you are seeing is "I'm not going to sell at these prices" and "I'm not going to buy at these prices" from the opposite sides of the market. For those that time the market, they are making a lot of money these days. You can tell by looking at "market" orders after the fact. If you want to see the screw up traders via volume look at bars around 4:00 EST when the maintenance margin changes from day to not day. If you want to see how "settlement" went on any particular day, check the settlement volume right after lunch. The sentiment is controlled by the minority. This is the direction the market is moving in. As you may or may not learn, volume leads price. This is a result of deductive reasoning. Inductive reasoning, incorrectly, leads to the CW views on volume and price. CW is the majority, fortunately.
What a pity it has never helped you participate, you've never traded in your life, you just sit on the sidelines and talk