This is a time compressed version of why we don't chase stocks and a move that was not supported.
Ooh, that hurt, remember in the last post, algos start it until retail comes in which is a bit later and a bit higher, then everyone (I wonder why-maybe a big ask was flashed for 50k shares and scared everyone-who knows) for whatever reason wanted out at the same time. That's an instantaneous loss, it also probably hit some stops and knocked some players in decent positions out of the game. This is an emotional appeal to "GREED".
ES which had been in a stinking 6 point range all day was just as painful, especially with the cost of one of those contracts.
Remember the mention earlier that late trade can get volatile after the pin is pretty much complete? This was a perfect example of that timing.
Even with that, still the TICK barely budged above +1000 for a few minutes , spending the rest of the day in an eery range.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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