No One's Selling

The volume is pathetic.  We are making new lows on this down move and I don't see fear.  I see apathy.  There is buying of put protection, but I see very little liquidation.  Without liquidation, you don't have much fuel for a bounce back higher.  The selloff feels like one of those from the summer of 08 where no one cared that we were dripping lower everyday.

This is very much out of character from previous selloffs over the past 2 years.  Those selloffs were always quick and on high volume with fear and liquidation.