The short selling still accounts for about 20% of daily volume but if you look at the pattern of trading each day its clear the sp is being managed lower with shifting prop bids and bot trades. This has been relentless since Jan 4 when the sp opened at 62 and has steadily fallen each and every week since. I suspect this is when the insiders found out about RIO pulling out and saw the opportunity to make a killing.
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bounce close at hand?, page-37
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