Markets pulled back on sinking volume overall (greater than -10%) in Monday’s session, which could be good news for the bulls, but there are some factors from a volume perspective worth mentioning. The sizable drop in volume was accompanied by only a slightly balmy reading on the Heat Gauge, suggesting that the bears are not really in full force yet (down volume on the big board was high, while the Nasdaq up/down volume was about even). In the long-term according to TVO, volume momentum is losing steam as the oscillator values continue to fall, and the bears will surely strive to fill the vacuum. Wednesday’s Fed looks be the next catalyst to establish any new trend. -MDLogin. Not a Member? Join us.