Smoking Gun 6
Most frameworks assume:
more capital → more causality
But I have discovered and proven that:
Causality can exist before participation.
Capital did not cause the move.
Capital only modulated its speed.
That forces a rethink of:
volume-first logic
flow worship
and the idea that “big money” must always act contemporaneously to matter
In reality, the most consequential capital often arrives after direction is already constrained - VWAP shifts.