What happened today?
There were signs
The crowd is not overly long. Yesterday we outlined our most recent take on this topic in our post "If we go up a little...we could go up a lot" (here). So far we are witnessing a massive reversal, but the real interesting set up becomes live should we trigger some of the CTA buy levels slightly higher as we await the buy back VWAP bids...Chart shows the imploded HF net long.