Did we see a market capitulation? Massive volumes, with strong reversals - reports of a major hedge fund unwinding equity positions, suggest this could be the case. With this in mind todays Asian session is key (VIEW LINK)


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David Scutt

A consequence of the ongoing push to automate markets rather than a capitulation in my opinion. Given that 85%+ of volumes on any given day is pumped through via HFT, it looks exactly like a momentum play, initially to downside and then to the upside. To me that explains the intraday performance of the less-liquid Russell 2000.

Henry Jennings

Suspect more to come...

Chris Weston

true..plus you can throw in the bullish moves in the Dow Transport and Philli Semi conductor index

James Marlay

Nice report Chris. I thought this observation from Shawn Hickman was quite interesting as small caps had been leading the way lower in the US. the Russell 2000 (small cap Index) was up 1.28%, a bullish indicator to me with the index that led the decline is now leading the recovery.