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Yeah, market is in pre-market "drift" mode.

I think that's true about the algo's, so long as the ranges are contained and no long term damage is done via the liquidity pulls/adds. The problems arise when something snaps and long term bigger money begins liquidating on top of all those algo liquidity pulls.

Robinhood showed up just in time for the next generation of bagholders.

Spike higher stalled right at a re-test of the broken morning lows.

About where the measured move hit.

Early on, it couldn't even test that overnight spike. I had figured a first hour run up to 2530'ish at least.

You see the measured move in cash SPX that landed right at that low? I posted the dates earlier for futures, Oct 3-Oct 29 = Dec 3-Dec 20.

Bounce window with the European close. Market trades on a damn timer.

Yes, RUT tagged 200MA on weekly and is one strong down day away from re-testing those 2015 highs.

Couple of things that might stall the market purge. Measured move from Oct 3(H)-Oct 29(L) = Dec 3(H)-Dec 20(L) and a lower channel line tag at yesterday's extreme.

Pull up a weekly chart of any of the retail favorite or "hedge fund hotel" names. The parabolic blow off moves in those stocks are nearly identical to 2000. Even worse in many ways since liquidity is garbage compared to that era with so much consolidation in the industry and algo's that simply...

Yes, oil down 40% just this quarter! The trick was how to distribute all their shares while holding the indicies higher from around May thru early October.

If and when we get down to 1800, the economic landscape will have deteriorated significantly.

Most of these "most owned" stocks are still in the initial stages of reversing the broken parabola. "Pullbacks" don't happen when stocks break this far away and above longer term MA's or reasonable growth.

Pullback implies counter-trend. When it's making new lows it's not a pullback. Unreal.

Been a long time since I've seen this type of post-FOMC reaction.

"the Defendants fraudulently solicited and accepted at least USD775,000 from at least three individuals with whom Kholamian was acquainted through his local Armenian community..." I knew it would be one of these stories. "Affinity fraud"

Looks like obvious spike resistance area would be into 2586.50-87.50.

Crude oil down 40% on the quarter. Just liquidation type events abound. Orderly, stair stepping pattern most of the way down (and basically no chance for trapped longs to escape). Patterns that I've found more prevalent in the "algo era".

His way of rationalizing buying the top and ignoring his stop.