By middle man I mean market makers on the NASDAQ or Specialist on the NYSE, a lot of HFTs are so fast that they act as middleman too, but they have no legal responsibility to provide liquidity at market like the other two so they can actually do more damage as these middle men are there to keep an orderly market and get certain perks for doing so.
In any case, retail doesn't act like this, institutional is already in, this is the timeframe middle men work in and they move very late when you see them, how do they know? Because they've been filling the institutional orders, they know what's going on.
The accumulation is larger and larger and in a range-the hallmark of pros filling at a VWAP or other specified target, the lows of the day work nicely.
The same is going on in Futures.
I don't usually bet on big gaps in the a.m., but this is one of the few times I'd lean toward that more than anything else, it would also be the most effective short squeeze
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