Loading ...A bit archaic to think the moves are from humans contemplating daily econ data points.
Consider this: ALL major indices (SPY, COMP, QQQ, IWM, DIA) bounced precisely at or near their Weekly VSTOPs (volatility stop), one of the most common quant targets on many chart time frames.
While you can’t determine in advance whether downside targets will hold, the mean-reversion automated quant-controlled regime operates UNLESS outsized volume from large buy-side funds enters the picture, which requires allocation changes they are still slow to enact.
No emotion, no data affects weekly/daily moves 95% of the time, been the case for 15+ yrs.