Regarding the drop of volume and share price, here’s my take:

The variant that requires the fewest preconditions (Occam’s razor, my favorite) is that someone, institutional or not, wants to buy a large number of shares. In order not to drive up the share price too much, he only buys medium-sized portions in chunks. However, even medium-sized portions are highly visible in a tight market. They give shareholders hope of price gains and tempt them to cling to their shares or even buy more in order to sell them only at high prices.

The buyer wants to prevent this for obvious reasons. Therefore, he pauses buying on days like today. Consequently, the share price stagnates or even declines. The buyer himself can cause the price to fall further by selling small amounts of the shares he bought before. Hopefully (from the view point of the buyer) this triggers some stop-loss selling, which causes the price to drop even further, triggering further stop-loss selling, and so on.

Also, the decreasing price level and the lack of further significant trading volume make at least some of the shareholders nervous. They fear that the buying has come to an end and want to get rid of their shares before the price level falls even further. So they put their shares up for sale. Perhaps they do not sell directly into the bid, but they could limit their sell orders at lower levels than they had originally planned.

If there are enough shares for sale at prices acceptable to the buyer, he will strike again. I believe we’ll see this happen rather soon.

So, don’t get nervous and hold on tight to your shares!