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Is This The Fed's "Hidden" Buy Signal?

While today's trading volume was better than in recent weeks (as it has been for the last 4 days of collapse), quote activity spiked to the 2nd highest ever on record. As Nanex's Eric Hunsader notes, quote cancellations were higher than ever and are accelerating even as the overall market volume slides lower and lower. What is intriguing is that the last 3 times quote activity spiked this much corresponded with a 'sudden' v-shaped recovery from a significant market weakness - which extended notably for six months or more... is this time different?


Nanex's Eric Hunsader shows the hidden reality behind trading volume in these "markets"... to be clear - actual traded volume continues to tumble structurally but the number of actual quotes (subsequently cancelled) continues to rise as machines dominate more and more of the 'flow'... However, today's spike (just like the other 3) stood out

h/t @nanexllc


And each of those spikes corresponds to market v-shaped bottoms...


Is this the Fed's hidden signal "all-clear"? Along with Fed's Williams idiotic statements about QE4, who knows?