Yesterday, the API reported a huge build in crude oil inventories. This morning, the EIA confirmed it. After a couple of minutes hesitation, the algos took over and marched crude up – and turned the Nasdaq and S&P green at the same time. As they have consistently as inventories have built.
MAnipulation has become completely obvious and shameless as the SEC’s so-called supervision turns a blind eye – could it be, perhaps? so that the SEC folks can discreetly become “compliance officers” with no work and large paychecks when they leave.