There has been enormous Algo/HFT activity this morning in US equities – much more than normal. It has coincided with a strong run up in the market (all the indices are up big time so far).
Algos/HFT are demonised … but lets not forget that many, many ‘value’ investors give their buy orders to brokers who execute using algorithms & HFT. Some don’t, sure, but many do.
In addition to the Algo/HFT activity this morning has been a notable run in the NYSE TICK. It’s 10:54 Eastern and the TICK has just had its first negative print for the day.
Make no mistake, there has been solid investment buying this morning so far.