Unlikely that we'll see anything much above 3010 on this run and then the selloff should be down to at least 2950
Indeed....the Trump put is in play here....always a possibility of a positive tweet or a news release on the China deal. This won't end anytime soon. Shorts beware.
A lot of trading firms have news feed linked to order execution. So breaking news get processed and algo's buy and sell for quick trades. Gee I wish I knew right when a news article saying Justice department to investigate tech companies..But that would be trading on inside info.
Remember the May swoon lower. One of the reason was Justice dept was going to launch an investigation into big tech firms. Along with other so called negative stories, Think China trade chatter. Sent the markets much lower. Then nothing.... radio silence. This folks is what you call market manipulation by insiders.
https://www.marketwatch.com/story/u...ch-for-antitrust-2019-07-23?mod=mw_latestnews This explains the 45 pt drop in NQ at 4:35pm today.
Well, no, because everyone gets that news at the same time. It's if you are the one writing the headline/article, and were to click "buy or sell" right before you push the "publish article" button from your terminal. That's where it is "insider". Or if you worked for the DOJ and knew someone decided to put out a press release, and you were the one to send said press release to the press.
Is it so hard to believe that the NQ sell off near close was because we hit a technical s/r level from the leg to ATH? 4H support to ATH Why look for news explanations?
It is quite simple. The NQ does NOT lose nearly half it's entire gains for the day in the final 30 minutes of trading unless it is news driven. This is a FACT. I've been watching it long enough to know this. There simply isn't enough human entity participation in order for a technical pattern to "cause" such a radical reversal of trend in the last 30 minutes before the market close.
This article came out 3 minutes after the drop started, high end news services like the bloomberg terminal probably knew it a few minutes earlier. https://www.wsj.com/articles/justic...es-11563914235?mod=searchresults&page=1&pos=1