Examining the Choppy Trading Action in the S&P 500

The video discusses recent market trends, highlighting a decline in the S&P 500 and ongoing volatility. Technical indicators like moving averages and RSI are analyzed, showing mixed signals. Open interest in SPY options is at its lowest since 2015, raising liquidity concerns. Upcoming earnings reports and macro events contribute to market uncertainty, with traders hesitant to make moves.

What concerns were raised regarding the decline in open interest and volume in the market?

What factors are causing traders to remain on the sidelines according to the conversation?