Courtesy of Tyler Durden of Zero Hedge
Just as Friday saw a massive ramp in the last 30 minutes of trading, so Monday saw a mirror image of Friday’s half an hour action, once volume picked up in ES toward the end of the day. And with that the most ridiculous statistical phenomenon in recent history, better known as the Mutual Fund Monday ramp, is now over. This is bad for algos as yet another reliable correlation ends with a bang.
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