The more things change, the more things stay the same. Almost exactly a year ago, we remarked on the massive bifurcation that was occurring in US equity markets [3] based on the crucial fundamental factor known as "day of week." The Dow Jones Industrials average is down 2% in 2014... but absent the crucial day we call "Tuesday", the Dow would be down almost 8%. On average, the Dow is up 0.4% each and every Tuesday this year (and every other day of the week is red on average)... lots of unriggedness here we are sure...
This is the Dow with (and without) Tuesdays...
[4]
Compare to a year ago:
[5]
And perhaps the most stunning chart of all...
[6]
As the Bangles might have said - "just another manic Tuesday"