I like Low Volume
For years I kept reading and hearing that this secular bull market is unsustainable since the volume is low. Well for years now we kept seeing this market rise and rise on light volume. Even this month pundits bemoan the low volume and yet the market keeps making all time highs.
I submit this is a good thing. I really don't want high volume pushing the market higher. I did want high volume back in March 2009 but that was after a totally oversold situation. While I wouldn't say this market is in overbought territory, but a rush in high volume making higher highs now would worry me. That could actually mean a top.
Low volume to me means people are holding for the most part all while there is plenty of money still on the sidelines. I'd rather see it trickle in than rush in.