It seemed as Rajoy and Monti let us all down, so something 'snapped'. EURUSD
cracked lower and Spanish and Italian bonds re-accelerated lower but most
critically an anomalously large volume rip went through S&P 500 e-mini
futures (ES). 72,000 contracts traded very suddenly dragging ES down 8pts as it
crossed the almighty VWAP line. 65,000 down volume or around $4.4bn
notional equivalent wanted out very rapidly.
The dark red line is the VWAP and lower pane shows huge sudden volume spike...
The dark red line is the VWAP and lower pane shows huge sudden volume spike...
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