Goldman Warns Of Faceripping Meltup As "CTAs And Buybacks Will Be Out In Full Force"

It was another torrid meltup for markets, one which steamrolled bears and underinvested hedge funds, but regular Zero Hedge readers were prepared for the move for two reasons: i) we previewed the dramatic impact the early Fed pivot would have a few weeks ago, and ii) over the weekend we warned that there is a massive tidal wave of buying on deck in the form of $11BN VWAP bids between stock buyback orders and CTAs blindly buying risk just because VIX keeps dropping.

Well, prepare for much more of the same because as a reminder, Goldman's trading desk calculated that if spoos rise above 4070, CTAs will double their daily buying from $5BN to $10BN per day, to wit:

CTAs: have $5b of S&P to buy per week at these levels. North of 4070 (long term momentum) this demand essentially doubles.