Holidays are over, yet trading volume continues to be low. Are MM just sitting on sidelines or is this Madoff /de-leveraging effect, such that we will not see prior volumes because people have pulled out money from equities?
====================== s-T-trader; Think its at least 2 or more things. 1]QQQQ,SPY .....look like they hit a notable bottom[ not necessarily ''the bottom''], but could be for a while-trend change. No doubt many were horrified to go thru a bear ,1st time. 2]So many wrong uses of over-excess leverage; looks like less leverage . so less vol. Exspect a bit more vol as the up trend or downtrend manifests, takes more time.