End-Of-Week Algo-gasm Insanity Imminent?
UPDATE: S&P says an impasse will not prompt an immediate downgrade - ramp-on (perfectly to VWAP and faded)
The Dow just breached 13,000 to the downside and S&P 500 futures are bleeding lower (catching down to a more anxious credit and Treasury market). Now well below VWAP, we worry that the plethora of headlines about to be unleashed on the investing world will create chaos in the markets (most likely futures first given liquidity). Will the meeting (which started at 1510ET) end after the day-session close allowing futures traders to play? who knows...
AAPL used the rampathon to get to Boxing Day's closing VWAP for a heavy dump.