Less than 20 minutes ago we warned the following:
The fun begins at 8:29:30 when Virtu headfakes all the algos into igniting momentum to see where the stops are ahead of NFP
— zerohedge (@zerohedge) April 3, 2015 [2]
We were off by 40 minutes because just over 5 minutes later, at 7:48 eastern, this happened: a market-wide FX stop hunt slamming every major pair.
[3]
Sadly for the algos, ES so far is unresponsive:
[4]
Nothing more than machines testing markets to see which has the most 'response' factor for when payrolls hits, and of course, where the stops are for the biggest bang for the momentum ignited buck.
And with all but Johnny 5 left to man the trading desks, is it any wonder this is happening?
