Who hasn’t trotted out that old TV catch phrase?
Thursday, the market fell hard on light volume. Today is it rallying rather well on even worse volume. You tell me if this is good enough data to analyze or is it GIGO – garbage in, garbage out?
This is an odd chart – hourly bars of NYSE volume in histogram format – I use to see not only how much volume is happening but when. Match that up to price action and you know if the buying or selling was urgent.
What I see is confusion and lack of interest in the market.
