What Happened At 6:12 AM This Morning?
Anyone waking this morning will glance at US equity futures and happily note its unchanged-ness relative to weakness in Asia overnight. But behind the scenes of the last 12 hours was a total and utter farce of price discovery failure. S&P 500 e-mini futures have been halted twice (0551ET anbd 0612ET) in what one market observer exclaimed "looks like manipulation to me." So what exactly happened at 6:12am?
As Nanex's Eric Hunsader exposes "looks like manipulation to me..."
It appears the "markets" are starting to run our of excess room for th evarious central bank manipulations to take place without being utterly exposed for all to see.
As Nanex notes - liquidity has disappeared...