Quick Chart Update
So, we got the very much expected bounce in the market. We have returned to the no volume HFT melt up market, yet again. Early August action has “destroyed” the Market long term, and we expect all markets to move lower during the course of this autumn. The move down caught people off guard and we got to see massive margin call selling, accompanied with an increased Trading by HFT. The end product of the race to zero (HFT Trading) will eventually be a total breakdown of the system, as no “real” flow will be able to execute redemptions. As for now, just a quick recap of what we argued some days ago, and where we are trading at the moment. Full Chartology will be presented later today.
Posted on the 29th of Aug;