I noticed this too and actually got filled on a sell limit order during this spike. It did not appear on the CL or WTI though. I looked at the time and sales and for some reason prices skipped up from 88.60 to over 89 in just one or two very low volume trades. Then the next trade printed 90.30 for 30 contracts I think it was. This accounts for the large spike you see on the QM chart. The next trade falls back down to under 89 and back in line with the market. Normally I would say it was a data problem but since I had a sell order actually fill at my limit price it was real. I would like to know how it happened also. Pretty crazy.
I was actually watching the 5 minute QM chart just as it happened. Looked like a rocket taking off only to fall right back to Earth.
yeah, that's how it looked to me too (on the 1 min as well) no explanation yet...oi what friggin year is this?! how does this happen in a time like ours?
Yeah, better lucky sometimes than good I say. I actually only caught a small piece of it around 89. You would have had to have a limit order to sell at exactly 90.30 to have made much. I suspect that the 30 contracts traded at that price were mostly buy stops. I am just glad I was on the right side as that was not fun for shorts who got stopped out in that b.s.