No, you and other posters are missing the most obvious aspect of today's volume: You cannot have huge volume in both individual and aggregate trades without significant price movement unless a significant volume of those trades were pre-arranged or otherwise occurring between parties who knew was on the other side. Therefore, it is a bullish sign, generally indicating parties getting holdings in order ahead of a move of some kind. If many were simply wanting out, the price would have dropped dramatically. So, I take the trade as a positive indicator.