Any clue for the spike on MES?

Discussion in 'Index Futures' started by Warren, May 14, 2024.

Upon a single big spike on ES 1 minute chart, the reason is:

  1. Event driven, like federal rates decision, CPI, geopolitics, etc.

    85.7%
  2. Randomly happened, hard to explain.

    14.3%
  3. technical reasons, like correction, important support levels etc.

    28.6%
Multiple votes are allowed.
  1. Warren

    Warren

    So, this morning(2024-05-14 07:30:00). There is a big spike on MES. Almost 30 points in range.

    I checked the news, without finding any big events happening.

    Any clue, why is this? 截屏2024-05-14 23.50.17.png
     
  2. p0box4

    p0box4

    PPI numbers.
     
  3. CannonTrading_Ilan

    CannonTrading_Ilan Sponsor

  4. Looking at the daily I see no spike...on the 1m chart this stuff happens all the time.
     
  5. No big events happening?

    PPI/CPI is probably the most important numbers lately.
     
    Bad_Badness, schizo and rb7 like this.
  6. schizo

    schizo

    Oh, c'mon, give the guy a break. Just a few years ago, you too were a fresh green noob. :D
     
    Laissez Faire likes this.
  7. schizo

    schizo

    The spike down ain't as important as the subsequent rally that made the selloff almost meaningless. In another word, the market is brushing off all bad news.
     
  8. I still am. :)

    A few years ago during prime time of the Fed Juice, news generally didn't matter, though.
     
  9. Bad_Badness

    Bad_Badness

    One should automate notification of these type of news events.
     
  10. Good Evening Warren,

    My grandfather use to tell me shut up when I ask ask him questions that start with the word "why".

    He would always say after I ask him "why" question....... "No sense in asking why boy, just do what I tell you to do boy and shut your ass up. You will die still asking why. Who cares about why."

    Just put food on the table, do not worry about how the food got on the table.
     
    #10     May 14, 2024
    beginner66 likes this.