2:05 — The Move That Can't be Modeled

If you were to investigate yesterday’s tape, you could ask a technical analyst: Why did the market rally precisely at 2:05?

And you’ll find out very quickly: there is no answer.

There are theories. A block order sitting there waiting to buy, perhaps. But if you look closely, you’ll see something stranger:

• At that very moment, there were more sellers than b…