
Nasdaq retail rush powers intraday momentum trade
Options and ETFs give tech index new momentum, while S&P 500 sees higher levels of mean reversion

A surge of retail activity in options and exchange-traded funds linked to technology stocks is causing the Nasdaq and S&P 500 indexes to behave differently at the close, prompting investors that seek to capture intraday trading patterns to adjust their strategies.
The now-predictable end-of-day rush from dealers and ETF managers looking to hedge retail flows has powered the returns of intraday momentum strategies on the Nasdaq. The same strategy, also called a congestion trade, has fared less
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