After a lackluster end to last week, the markets jumped right back with the S&P 500 closing up 1.36%.

The number by itself is pretty impressive but the price action says different. All the major indexes closed pretty well off highs signifying supply in the market.

When we add volume to the mix, the day’s significance drops. Volume was close to the low for the last two months.

If things stay consistent, it wouldn’t surprise me to see the markets drift back to the previous highs and then fall off on increased volume.