It took the algos a good hour of digesting the Fed's PR before slowly and surely, as we observed when noting the stealthy action in the VIX, the crowd shifted suddenly from the right side of the boat to the left. In the process, it pushed the TICK indicator well below 1000. But it is probably more notable that a modest 1% drop in the S&P is enough to bring up rumors of a "Markets in Crisis" special, and force all those who were buying on the low-volume levitation into a coordinated sell-off. New York Fed's Kevin Henry better show up soon or the last hour of trading will get messy without an invisible hand propping it up.
and volume explodes...
ES drops to the lower end of its up-trend...
