No Change In The Regime: Volume Dismal In Yet Another Green Day

The chart below paints a vivid picture of market breadth dynamics both recently, and since the July rally: for the past month, beginning with the 2010 highs "correction", the down channel has been accompanied by spikes in volume, compared to the "bounce" leg, which, and this should come as no surprise to anyone, has been on well below-average volume, both during the recent period, and during all prior micro "correction" rebounds. So, for the benefit of the cheap seats, here is leg xyz of the magical bear market rally, once again occurring on fumes, and that's being generous. And for all those looking to start a quant operation, here is all you need to know - If low volume then buy, else sell.



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