Why the Ruckus Now?
Not everyday is of equal importance. Tomorrow, employment data will be reported. It hasn’t been important, really, since Q3-Q4 2020. It will be tomorrow. When the data appears, professionals will swarm the market, leaving individuals aside, watching from the balcony. This is known, so the big mutual funds, if they have changed their minds, have already done so, or it may appear at the end of today.
Mutual fund adjustments are entered at the end of the day, possibly explaining the 230P-4P drop, with all eyes on Friday at 830A EST.