ADP was bad NFP expected worse if it isn't don't step in front of the train. Hedge Fund redemptions, stuck in this range for a while.
Do you actually TRADE for a living or simply watch CNBC and post day after day on ET? Look around the marketplace . . . No volume, just like yesterday afternoon. Buyers strike, with some selling.
over 3 million ES contracts = no volume? SPY 50 million, on the high side Do you actually make $ with that kind of insight? Sad.
The media is dumb. They act like all hegde funds are 200% net long. Nothing could be further from the truth. Most equity hegde funds have very little net long exposure. If they get redemptions they'd cover shorts and sell longs, leaving little net impact on the SP500. BTW: Ever seen a headline "Hedge fund short covering lifts market"?