What no ones talking about is all the people on the wrong side of these trades. They were trying to bottom fish and got destroyed. Whats not said enough is only 3-5% of people who try to trade full time will make it 2 yrs. Looking at all the boards on Elite trader you'd think 99% of traders make it
resistance off the 61.8 and upper TL. You can complain about the algos or observe what they are doing.
I agree on everything you just said, I'm just commenting on the speed of all the orders when it's moving faster than you can click on. With such a thin volume per tick (often 1-5 contracts or so), there should be gaps and momentarily larger spreads (like you see sometimes at night), but nope...
This is just the beginning. We are not going back to "normal" anytime soon. Suicides are going to outnumber COVID 19 casualties in the fallout of all of this.
What I wonder is what effect will oil at this price have on electric cars and renewable energies, suddenly they must look much more expensive.