Mike Milligan reports weekly trading volumes for SPY, QQQ, and IWM in early September 2026. SPY hit 43.5 million shares on Thursday before dropping to 34.1 million Friday. Volume texture matters more than the total: it shows whether traders actually believe in a price move.
Last week on the show, we'd said we'd watch volume as traders returned from summer. Here are the final numbers for August 31st through September 4th. SPY represents the, you know, S&P 500 index, had total weekly volume of 187 million shares plus. QQQ, 153 million shares plus. And the Russell 2000 through the ETF IWM, 155 million shares plus. That's a lot of volume. 96 million shares plus. The daily texture matters more than the total. The SPY volume ran 38.8 million Monday, jumped to 41 million Tuesday, dropped to 29 Wednesday, then spiked to 43.5 million Thursday, the highest single day of the week, before easing to 34.1 million on the pre-holiday Friday. Volume is the conviction underneath the price.
How to evaluate AI growth stocks (Nvidia, Oracle, CoreWeave) beyond market hype
How to evaluate AI growth stocks (Nvidia, Oracle, CoreWeave) beyond market hype
