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Volume Crash Sparks Monday Meltup In Stocks

The US equity markets stumbled out of the gate as the S&P 500 slipped back down to test its 200-day moving average. Then as volume dried up, the inevitable occurred - an algo-driven vertical melt-up pushing stocks back to unchanged... Crucially, undelying this 'panic-buying' is only 35% of stocks are advancing!!



Who could have seen that coming? Well, anyone who remembered at the open that the only right move - allowing HFTs to levitate stocks - is not to trade.

as a reminder, zero volume levitation algos can't levitate stocks until volume returns to zero

— zerohedge (@zerohedge)