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Today’s Sub 5,255 Close Triggers $77 Billion In Global CTA Selling

Update (5:15pm): The S&P closed well below 5,255, and even spoos failed to ramp above the closely watched CTA trigger level in a last minute buying frenzy despite the $6 billion Market on Close sell imbalance (an indicator of CTA liquidation pressure). Which means that what happens next is in the hands of Japan (and
byLaura Mitchellx
6 August 2024
1 minute read
Today’s Sub 5,255 Close Triggers $77 Billion In Global CTA Selling
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Update (5:15pm): The S&P closed well below 5,255, and even spoos failed to ramp above the closely watched CTA trigger level in a last minute buying frenzy despite the $6 billion Market on Close sell imbalance (an indicator of CTA liquidation pressure).

Which means that what happens next is in the hands of Japan (and specifically the clueless Bank of Japan): another painful carry trade unwind here and tomorrow will be ugly. On the other hand, should USDJPY ramp and pull Japanese stocks higher with it, and the trans-Pacific selling may finally see some respite.

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Laura Mitchellx
Hello, I'm Laura Mitchell, a business writer focused on delivering insights into the financial world. My expertise lies in market trends, economic policies, and corporate strategies. I have a passion for demystifying the complexities of the business world and helping my readers make informed decisions.
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