Wow, I really hope this holds. It'll be a little concerning if this is all the market can do today to upside, given all the likely intervention that took place. Really needed a bigger rally than this, if we're going to avoid going to the levels mentioned. Didn't catch much of the short, only got a small piece. Couldn't find out to effectively trade it, despite still believe this is just forced short covering.
The market needs to correct out any excess. At some point it will find value. Meanwhile traders simply need to follow the bouncing ball.
I'm journaling a 2k account focused on spx options, don't expect it to be super busy but if you want to follow, it's out there.
Looking for a MES short at 2464.50, if filled, stop at 2488.00. Target open for now. Will be looking to put on a bearish option spread as well. Edit: Filled.
That was good for a quick 10 handles... Laid out shorts on Globex last nite at 95 thru 2505 scale .. hit on most of them covered ‘em @ 2454... Quota hit hit early so in cherry picking mode for remainder of day...