6.7% and $216,000, same market

The former is the 24-hour range, from 278.59 to 297.99
The latter is the day's total trading volume—just this much $SNOW
People who usually use the first yardstick say: this volatility is tradable
Look through the second yardstick, and $216,000 doesn't even make a ripple
A few thousand dollars can push it from 289.88 to 295, or kick it straight back down to 280
The 20:00 candle is proof: 296.84 plunged straight to 278.59
18.25 points in one hour, with no meaningful buyers stepping in along the way
At 21:00 it bounced back to 291.32; whoever dumped it had no intention of sticking around
ma20 sits at 290.22, and the current price of 289.88 is just 0.34 below it
With a chart like this, every candle needs to be taken with a grain of salt
My conclusion is to stay out—not because I'm bearish, but because the prices in this market aren't real
If you really want to trade it, wait for it to get back above 296.75 and trading volume to exceed $1 million
(Not investment advice; trade at your own risk)