You'd be surprised how unsophisticated most of these trading bots are, very doubtful enough trading volume happens over this sort of macro trend (less their imp

You'd be surprised how unsophisticated most of these trading bots are, very doubtful enough trading volume happens over this sort of macro trend (less their impact on intraday trends) to cause this. Further if those strategies existed, they would have been already turned off -- most shops have strategy engines with easy switching various smaller strategies, there isn't a mega-algo. Nevertheless, You are correct that some of the first principles they trade on are no longer valid.