Its just after 11am EST and the market has seen just under 550,000 ES contracts trade since yesterday’s close (compared to volume at this point normally north of 750,000 contracts).
This week has been relatively light volume because a) traders generally “agree” to begin summer after the 4th of July holiday (this post is clearly US centric) and, b) there has been relatively little in the way of economic announcements. Add in that it’s Friday and you can almost see the remaining vehicles starting to snake toward the beach in NY/NJ/CT and the lake in Chicago.
The point? Fewer market participants generally begets lower volume which begets higher erraticism… Day traders beware…
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