Hasn't see a reading like this since Oct 2006 - You think this market isn't bipolar?Somethings fishy here. My conspiracy theory is as follows: Disruption in the force over the weekend. Large caps (heavy weighting in the indexes) are being bought and the remaining high beta names are being sold, which are less of the weighting but there are 3x as many of these). This has created a phenomenon that gives the illusion that TICK is oversold and there are roughly 1,234,567 algorithms that sniff that out. The indexes can go higher with heavy buying in the futures market as well as the SPY, while shorting the underlying on the way up to 1169-1175. Futures will likely be sold (by goldman, for a handsome profit) and the market will take a fast drop for a few days/week or so. Once they play these shorts backwards they will be covered en masse after Goldman walks into the pits (somewhere near 1136, maybe lower) and buys about 1,500 BIG S&P contracts with the soon the be Treasury profits they'll make off of the flight to safety.
You'd be better off being neutral right here.
