SPY trading volume has remained below the $60 billion 'freak out level' for 50 consecutive days, signaling that investors are largely looking past headline-driven risks. The stretch comes despite market commentary centered on Iran, national debt and rising yields. The source notes that last year SPY repeatedly moved into the higher-volume zone even as prices quickly rebounded. This year, lower volume suggests investors have been less inclined to adjust portfolios in response to those headlines.