It is not just weird, it is predictably weird, and bots are gaming it. That makes it 10 times more dangerous.
I don't you were trading in 2009. The market is calm comparing to what happened then.
Then Big Ben found the silver bullet, a.k.a, money printing, that solved all of the problem in the universe.
The trading will most likely be suspended due to "technical reason" in the coming days, if not today.
This kind of huge +3 std wild swings in a few days are typical for imminent problem. Big problem coming.
It looks like the central bankers want an orderly sell-off. Since this week SPY breaks the trading range of 195 - 205, the next dip will test 190 instead of 195.
Realistically, there is no recession this year (or more precisely, there is no recession that can be reflected in the published data), so the low of the year is probably 180.
That's way too conservative. The #$#$# has hit the fan, and people are so dumb that they have not noticed yet. It normally take a few days for the real message to sink in.
Really caught me in surprise.
Based on the over bought condition, SPY should be below 205 by now. Not sure what the plan is for bots. Trick the last batch of suckers?
A small rebound at 195, maybe trying to re-test 200, based on some "rumors". Then another round of sell-off coming.
There is probably no recession this year, so the real crash has to come later, but I might be wrong.
between US, EU, and Asia market.
between SPY and oil and bond
The last time we have such strange and massive relation was 2009.
The Fed cannot handle Lehman in two days, they can not handle Briexit in two days either. This is just common sense. Buying into a dead cat rebound in face of mounting uncertainty is just foolish. The buyers will run away 10 times faster.