This week has proven to be one of the choppiest i can remember. The September 80 year rally sure pissed me off, much to the delight of many people on twitter. We came in this week trading 1147.5’s trading down to 1276.75 to settle at 1142.25. 80% of the volatility within this range was in the overnight session. Every night we saw futures ramped in the wee hours of the morning when notional value is so small a butterfly fart can send the futures 5 handles in either direction. The most interesting takeaway from this weeks shenanigans was the 15-30 min after the open the market sells sharply lower to days lows only to be caught closing nearly flat on the day.
This market is not a real market, this markets value is not determined by the market. This market is man made, the modern theory of supply and demand has been destroyed by the intervention of governing parties in a free market designed to always seek equilibrium, the zero sum.