To 'prove' that the end of QE3 is not a negative for stocks and to 'confirm' the Fed's narrative that the economy is surging (despite all the unsustainable one-offs in the GDP print [10]), algos are tearing stocks higher, targeting the crucial 2,000 S&P level... thanks to 2-week old headlines from Japan, a broken options market, and the NYSE unable to report trades... As Nanex notes "this is a bigger event than the 2013 market blackout"
Despite the best efforts the best they could manage was 1999.40 before the reality of a not-broken market kicked in...
[11]
Welcome to Stock Market Blackout 2
— Eric Scott Hunsader (@nanexllc) October 30, 2014 [12]
Only quotes/trades are in Nasdaq listed stocks. This is a bigger event than the 2013 blackout
— Eric Scott Hunsader (@nanexllc) October 30, 2014 [13]
Anatomy of a market screw up - $SPY [14] pic.twitter.com/biK29lDXGm [15]
— Eric Scott Hunsader (@nanexllc) October 30, 2014 [16]
Of course away from the broken equity markets things are not as exuberant...
[17]
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So just as the market broke 2 weeks ago at the lows.. now it is breaking at the highs... to enable moar highs... PPT has become DTPT (down-tick prevention team)
