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Big-Tech Bloodbath Continues After Biggest Sell-Program In History

After yesterday’s ugliness in big-tech and small-caps, many hoped for a bounce today. But the combination of ARKK gamma and CTA deleveraging meant the pain was not over and both Nasdaq and Russell 2000 plunged into the cash market open (after getting hit as the Asia open and European open).

But that puke into the cash open was one for the history books as NYSE companies trading on downticks exceeded those on upticks by 2,069 at one point. That was the most widespread bout of selling in the history of the indicator…

“Sell Mortimer, Sell!”

And that was just enough to spark the panic-bid rebound in markets today, sending Nasdaq and the Russell into the green. The Dow was the day’s biggest loser followed by the S&P as Small Caps and Nasdaq battled to hold on to any gains all afternoon…

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