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Monday was the fifth consecutive session with zero program trades. That’s pretty rare, with only twelve cases since 2014. The S&P was 10-2 over the next week with a 0.6% max loss…

Zero Program Trades Five Consecutive Sessions
07/08/24… SPX ???
06/25/24… SPX +0.7% five sessions later
05/10/24… SPX +1.5% five sessions later
11/17/21… SPX +0.3% five sessions later
08/09/21… SPX +1.1% five sessions later
06/30/21… SPX +0.5% five sessions later
02/08/21… SPX +0.4% five sessions later
08/09/18… SPX -0.5% five sessions later
11/16/17… SPX +0.7% five sessions later
10/04/17… SPX +0.7% five sessions later
09/13/17… SPX +0.4% five sessions later
07/19/17… SPX +0.2% five sessions later
06/23/17… SPX -0.6% five sessions later

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