Market Microstructure

Most risk models in finance still trace their roots to Harry Markowitz’s 1952 portfolio theory. His formula for portfolio variance has become institutional orthodoxy, from asset managers’ spreadsheets to central bank macro-models. But what if the model’s foundations are missing a critical component of today’s noisy markets? Victor Olkhov’s recent paper makes a sharp yet mathematically grounded argument: Markowitz variance drastically underestimates or overestimates true portfolio risk when trade volumes fluctuate — which they almost always do. ...

In technical analysis, few concepts are as foundational as support levels — those invisible lines where prices tend to stop falling, bounce back, and spark new rallies. For decades, traders have relied on hand-drawn trendlines, Fibonacci ratios, and moving averages to guess where those turning points might be. But what if the real market structure is too complex, too dynamic, and too subtle for static rules? Enter DeepSupp, a new deep learning architecture that doesn’t guess support zones — it discovers them. By analyzing evolving market correlations through attention mechanisms and clustering latent embeddings, DeepSupp offers a glimpse into a future where support level detection is less of an art, and more of a science. ...