…the final desperate straw broke the camel’s back into the close as ES dropped 1% in less than 5 minutes as volume dwarfed the rest of the day with machines fighting each other to exit at a reasonable price.
E-Mini S&P, often abbreviated to “E-mini” (despite the existence of many other E-mini contracts) and designated by the commodity ticker symbol ES, is a stock market index futures contract traded on the Chicago Mercantile Exchange‘s Globex electronic trading platform. This is the same system that is believed to have triggered the May 6th, 2010 ‘flash crash’. – Definition courtesy Wikipedia, Ed.
Dispatches From The Front 