This has only happened today — it is not a pattern in prior days. Apple also exhibits similar characteristics. The rest of the market does not. Hmm.
It sure looks like a program, that I agree. But what type? Maybe a portfolio rebalance that says buy on the hour, then exhausts its liquidity at the end of the half hour?
Volume is a bit higher in KO and MCD, but not dramatically. IBM has twice normal volume, not surprising given the earnings.
I know, it’s easy to scream, "It’s the Machines, Bob, it's the Machines! They're taking over!" But I do try to look for a more elegant explanation. Sorry. I'll get back to you.
Bookmark CNBC Data Pages:
Want updates whenever a Trader Talk blog is filed? Follow me on Twitter: twitter.com/BobPisani.
Questions? Comments? email@example.com