The general state of well-being of a securities market, based mostly on trading activity.
The state of the market. A market tone may be either good or bad. A high trading volume with strong or at least decent prices is seen as a positive market tone, while any sort of instability or downturn is seen as a negative market tone.
The condition of a securities market with respect to trading activity and strength of prices. An active market with steady or strong prices has a good tone.