Volume Info

Trading volume reference: SPY, QQQ, DIA, and IWM average volume by time of day and candle timeframe (EDT).

SPY Volume

SPY Average Volume (EDT)

Time (EDT)2-min candle5-min candle15-min candleNotes
9:30 – 9:451 – 2.5M+2 – 4M+5 – 8M+Front-loaded; not linear
9:45 – 10:30400 – 800K1 – 2M3 – 6MOpening range activity
10:30 – 11:30200 – 320K500 – 800K1.5 – 2.4MTapering; spikes on data (EIA Wed 10:30)
11:30 – 14:00120 – 200K300 – 500K0.9 – 1.5MMidday lull
14:00 – 15:00160 – 280K400 – 700K1.2 – 2.1MFOMC days: 1.5 – 3M+ / 3 – 6M+ / 9 – 15M+
15:00 – 15:50400 – 600K1 – 1.5M3 – 4.5MFinal-hour positioning
15:50 – 16:001 – 2.5M+2 – 5M+6 – 10M+MOC imbalance; front-loaded at the bell
Full session avg282,051705,1282,115,385ADV ÷ 195 / 78 / 26 candles

Avg daily volume (shares) as of 2026-10-19: 55,000,000

QQQ Volume

QQQ Average Volume (EDT)

Time (EDT)2-min candle5-min candle15-min candleNotes
9:30 – 9:45640K – 1.6M+1.3 – 2.5M+3.2 – 5.1M+Front-loaded; not linear
9:45 – 10:30250 – 510K640K – 1.3M1.9 – 3.8MOpening range activity
10:30 – 11:30130 – 200K320 – 510K950K – 1.5MTapering; spikes on data (EIA Wed 10:30)
11:30 – 14:0076 – 130K190 – 320K570 – 950KMidday lull
14:00 – 15:00100 – 180K250 – 450K760K – 1.3MFOMC days: 950K – 1.9M+ / 1.9 – 3.8M+ / 5.7 – 9.5M+
15:00 – 15:50250 – 380K640 – 950K1.9 – 2.9MFinal-hour positioning
15:50 – 16:00640K – 1.6M+1.3 – 3.2M+3.8 – 6.4M+MOC imbalance; front-loaded at the bell
Full session avg179,487448,7181,346,154ADV ÷ 195 / 78 / 26 candles

Avg daily volume (shares) as of 2026-10-16: 35,000,000. Time-of-day ranges are estimates: the SPY profile scaled by average daily volume.

DIA Volume

DIA Average Volume (EDT)

Time (EDT)2-min candle5-min candle15-min candleNotes
9:30 – 9:4564 – 160K+130 – 250K+320 – 510K+Front-loaded; not linear
9:45 – 10:3025 – 51K64 – 130K190 – 380KOpening range activity
10:30 – 11:3013 – 20K32 – 51K95 – 150KTapering; spikes on data (EIA Wed 10:30)
11:30 – 14:007.6 – 13K19 – 32K57 – 95KMidday lull
14:00 – 15:0010 – 18K25 – 45K76 – 130KFOMC days: 95 – 190K+ / 190 – 380K+ / 570 – 950K+
15:00 – 15:5025 – 38K64 – 95K190 – 290KFinal-hour positioning
15:50 – 16:0064 – 160K+130 – 320K+380 – 640K+MOC imbalance; front-loaded at the bell
Full session avg17,94944,872134,615ADV ÷ 195 / 78 / 26 candles

Avg daily volume (shares) as of 2026-10-16: 3,500,000. Time-of-day ranges are estimates: the SPY profile scaled by average daily volume.

IWM Volume

IWM Average Volume (EDT)

Time (EDT)2-min candle5-min candle15-min candleNotes
9:30 – 9:45450K – 1.1M+910K – 1.8M+2.3 – 3.6M+Front-loaded; not linear
9:45 – 10:30180 – 360K450 – 910K1.4 – 2.7MOpening range activity
10:30 – 11:3091 – 150K230 – 360K680K – 1.1MTapering; spikes on data (EIA Wed 10:30)
11:30 – 14:0055 – 91K140 – 230K410 – 680KMidday lull
14:00 – 15:0073 – 130K180 – 320K550 – 950KFOMC days: 680K – 1.4M+ / 1.4 – 2.7M+ / 4.1 – 6.8M+
15:00 – 15:50180 – 270K450 – 680K1.4 – 2MFinal-hour positioning
15:50 – 16:00450K – 1.1M+910K – 2.3M+2.7 – 4.5M+MOC imbalance; front-loaded at the bell
Full session avg128,205320,513961,538ADV ÷ 195 / 78 / 26 candles

Avg daily volume (shares) as of 2026-10-16: 25,000,000. Time-of-day ranges are estimates: the SPY profile scaled by average daily volume.