Since ME's last change of substantial as at 13/1 - there is has been no obvious substantial buying from any of the top buying or selling brokers (for data up to 3 days ago). Looks to me like ME are no longer a seller and the other mob -TC - selling down some of their broker options have not been aggressive sellers.
I suspect it's just a largish private holder getting a touch panicky with the way global
equities have been trading.
SP won't be going up in a straight line - stating the obvious!
I am in it for the long haul. Good luck all.
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