Buyers are stumbling in, shorts aren't increasing as they wait to see what happens, and people aren't selling.

Looks like bad news for the shorts.

You don't mention that the avg volume is that high due to short activity.
That it's dropping off and the vol left is buyers shows that the downtrend is over.

Vol will increase as BUYERS enter and shorts wait for another drop.
Give me another five "too low" 80k days like today and you'll see VOL go way up as the shorts cover.

2.2 Million shares to cover...... I smell cover rally, ain't it sweet?

-DB