Market update - 2 Jul 26

We probably have about ~24Bn of semis to sell into the close. Some amount (maybe all) would have already been front ran by funds. Given the amount that the momentum factor is down by, i strongly suspect that pods are getting stopped out. Most pods are long momentum factor.
Going into the long wkend, there will be likely risk management stop outs on positions as well. So bear in mind when you see wacky price action.
Tomorrow Korea will be trading. Unless the carnage in $MU and $SNDK stops, i suspect that Korea will be hit pretty hard. $7709 is a trapped whale.
It is also amazing that $Q is down 2% with $AAPL up 4.5% - just goes to show how much of a stop out there was in semis and the momentum factor.
On the other side of the cherry, $BTC and crypto is trading quite strongly. Crypto has led liquidity for most cases. IMO, the current sell off in semis is a positioning wipe out. The question remains, can you handle the pain?
Once semis mean reverts, the indexes should bounce pretty hard