S&P Futures Gap Up 0.5% -- That Is All

Tyler Durden's picture

Asia opens loud and proud and announces itself with a subtle 'buy-every-single-contract-in-the-stack-coz-I-am-desperate' algo grabbing 7000 contracts in S&P 500 e-mini futures (ES). Nothing else moved, just ES. Now a few things are reacting but the total lack of news and sheer ignorance of unloading that much into an illiquid thin market at this time of day suggests this market is more broken than we suspected. Also, since the move is identical to what a certain Bruno Iksil would have done back in March with IG9, when he would sell through all the bids, only this time in reverse with equities, we wonder if the "water walking" Frenchman may not have already found his next port of call.

Note the total lack of follow-through in any othe risk-asset...

as a 6-7000 car trade grabs everything in the stack and lifts us 6 points higher on a 'stop-run'...

 

Charts: Bloomberg