Monday’s light volume decline means little.
We want to be careful not to get too wrapped up in day-to-day action, and must always be aware of the bigger picture.
We’ve taken a modestly bullish stance on the market due primarly to our price and volume analysis.
But often when the market has burned bulls and bears price-action will zig-zag mostly sideays for a time as players fight to get on the right side of the action.
Bulls want to see down days on lighter volume, and up days on heavier volume. And Bears want to see the opposite.