One of the main points of overnight futures heavy lifting has to be to help Wall Street firms and other entities sell their unwanted product to somebody else.
Going by the euphemisitcally polite name of “distribution” this is really the transfer of a hot potato from smart hands to less smart hands.
This requires a large amount of marketing to assist, which usually looks like CNBC, et al., talking to retail investors about the importance of buying the dips, not getting shaken out, and being in it for the long haul.
For example, I just wandered over to the Reddit Investing group and immediately found this comment about APPL:
For most people, it’s only a question of “when” not “if” the dip will be bought.
Sure, there’s always a bottom out there somewhere, but I get the distinct sense that these investors are thinking that the bottom is imminent, not many years away…or factoring in that all companies get competed away eventually, as GE is currently teaching a bunch of investors.
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