Smart Money Exodus Continues Despite Daily "Buy-The-F**king-US-Open-Dip" Cycle

Zero Hedge | 7/12/2018 | Staff
KHALED (Posted by) Level 3
Click For Photo: https://www.zerohedge.com/sites/default/files/2018-07/2018-07-12_7-34-03.jpg

Every day is different, right? It's an efficient, random-walk, right?

Wrong!

Machines - Pattern-recognition - Algos - NYFed - PPT

Whether it's the machines vicious-circling their own pattern-recognition algos or The NYFed's PPT Desk arriving at work and taking charge, the US equity market has exhibited a strong intraday 'seasonality' for the past two months.

As Bloomberg exhibits below, the reality of trade wars take a bite out of stocks overnight, only to suddenly and inexplicably bid as the US equity markets open. However, once European markets close, the intraday party is over and sellers come back en masse, dumping into the US equity market close.

Type - Price - Action - Frank - Cappelleri

“This type of back and forth price action has defined 2018 thus far,” said Frank Cappelleri, senior equity trader at Instinet LLC.

“We’ve seen strong moves in...
(Excerpt) Read more at: Zero Hedge
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