SPX Volume

I can't stress the importance to notice that the S&P volume is at it's lowest in years, which can be caused by several reasons.
Complacency, causing traders and investors to feel comfortable with their positions, therefore reducing turnover.
Fear that the market could crash hard, so they are staying on the sidelines.
Prices are to high, they missed the rally.
Lack of capital, believed or not we are still in a distressed economy.