CNBC : Wall Street’s stunning six-week rally has been fed more by traders looking to take advantage of quick swings in the market than investors with a long-term view, NYSE Euronext CEO Duncan Niederauer told CNBC.
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Because of that, the rally likely is to run out of steam as low volume eventually comes back to the bite the market, he said.
"It feels to me we’re in a trader’s market and not an investor’s market," Niederauer said in a live interview from the exchange floor.
Markets are likely to near their March lows after an upswing that has sent the major indexes more than 20 percent higher, he said.
