Not sure I follow. Price action is price action regardless of a split or not. Who cares "Why". Incidentally, how do you know that there were all these "confused daytraders"? Did you interview these people or something? Anybody can come up with theories as to why something happens or why something doesn't happen. Who knows if a particular theory is even correct. More importantly, WHO CARES. What IS happening (as far as price action goes) trumps the why it's happening. At least that's the way I see it.
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