While in the past VWAP was the traditional strange attractor for intraday price convergence, today marked a stark difference, indicating that either i) whoever was trading did not use any VWAP algos to accumulate/dispose of block positions, or that, ii) [and in keeping with i)], most orders were routed to dark pools. However, take away FNM, FRE, and Citi, and there were basically no large blocks. One wonders just how much trading in the fab five f*@&#d financials occured in dark pools over the course of not just today, but the past week: if one were to add dark pool volume to what we know accounted for 25% of the total NYSE volume, the result would likely be a shock.
At least Goldman's REDI and Sonar are booking some solid cash.
Also, just in case you thought anyone traded during regular market hours anymore, the chart below should be quite eye opening.