As a trader, you shouldn't be asking why. As a technician, you would have seen that the market was vulnerable down towards the 40 and 50 day MA's, which the market just bounced off of with vigor.
wouldn't have seen that, dont watch them.... i only keep 60sma and vwap on screen as a pivot. curious why you like to use those averages? i like 60sma because i was under the impression (could be totally wrong) fund managers use 60sma as a gauge of market average/center (pivot)
You're missing nothing IMO, it's just buying and selling with a little more vigor that we have seen in the last couple weeks. Volatility is still sedated and very very low by historical standards.
Exactly - who cares why if you are a daytrader. There's a millions reasons why we are seeing this action and not one reply is better than any others. Just trade what you see.
lol...... some of you guys crack me up. and theres very valid reasons why markets do what they do. i think an intelligent trader would want to know as much as possible. knowing and reacting go hand in hand an make a well rounded trader that can handle more of what the market can throw at you...what do you think?
I think if you spend your time trying to find exactly what is moving the market and when and why, you will be wasting much of your time. Some technicals will say XYZ, some fundies will say ABC and some days they line up, some days they don't. Some days econ news moves it, some days it doesn't. The sooner you realize that the sooner you can spend time making money in my opinion.