Return of the Volume

Return of the Volume

A few weeks ago I kept insisting on observing a volume spike (~600M) on SPY to signal the low, but after watching the volume drop off last week to 200M I began to doubt the volume would ever get that high. But the volume during today's monster drop was almost 400M, not far from my 600M expectation. So I return to my previous stance where I am looking for a day with volume around 600M to signal the low of this pull back.

SPY made lower lows today and will most likely drop even lower. I have shown possible support levels for SPY.

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