As defying as it seems to be, we are still rallying in stocks, on notably low volume on this US holiday shortened week. A lot of the moves are being exaggerated by players with size to push this market around. Infact the NYSE traded with the lowest volume since January 5. The correlation continues: low volume - market up; high volume - market plunge. Rinse. Repeat.
Also, in a complete failure for VWAP reversions, the early am shakeout on moderate volume was followed by a laughable lack of action at the day's highs untli the end of the the day, when, surprise, all the trading picked up in earnest in the last 10 seconds. What do you get when you cross Atlantic City with E-Bay? That's right - U.S. equity capital markets.
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