In many ways, the last few weeks for the market have been like watching paint dry, as volatility has been non-existent. Given it’s August, this is the way it normally is, so we aren’t complaining. Along with the lack of volatility, volume has really dried up as well. In fact, the last time that we had an above average volume day in the S&P 500 tracking ETF (SPY) was on July 15th. That’s 25 straight days of below average volume.
In today’s Chart of the Day, which was sent to paid subscribers, we looked at prior periods where volume in SPY was below average for at least 25 trading days and then provided an analysis of the ETF’s returns going forward. To see the report, please start a 14-day free trial to Bespoke’s paid research below.