Thin market, light volumes, hollow rally, liquidity driven.
It is quite important to remember that the market's price is set at the margins, and the distribution of the marginal price is not uniform.
What more can I say?
“Thus, it should be understood that when pro-US figures use the term, 'rules-based international order,' they are not referring to anything analogous to the rule of law. Quite the opposite, they are using Orwellian language to describe a system in which essentially no rules can be established and/or observed, given that the dominant state has the prerogative to violate and/or rewrite “rules” at its whim.” Aaron Good, American Exception