Low trading volume persists across many $SPX components today. This makes conviction on any significant moves harder to ascertain. Any thoughts on what's driving this lighter volume? Holiday effect perhaps, or broader hesitancy?
Could also be end-of-quarter window dressing for some funds. Low volume means bigger players can make moves without too much fanfare, or simply hold fire until Q3 starts in earnest.
Definitely feels like the holiday effect combined with a bit of 'wait and see' ahead of the next CPI report. People are probably just not wanting to get caught out.
I'm leaning towards broader hesitancy rather than just a holiday effect, especially with the Fed meeting looming. It feels like many are waiting for clearer signals before committing capital.