You think THIS has anything to do with "investing"? Absolutely NOTHING TO DO WITH INVESTING: This is pure clusterfuckery.
I counted an $8 dump, followed by a $12 pump and then wait... A $10 dump. It doesn't get much better for a trader. More than a week's worth of action jammed into a single day.
Reading all the frustrated comments above, I guess I ain't the only one. I could understand if we retraced from the HOD and closed at 50% FIB (for all ya fib lovers) or even 62.8%. But close exactly at the LOD? Seriously??
I loved today. I look forward to more volatility over the next few days and then the inevitable Monday pump. Tomorrow should be another red day to finish with a solid weekly bar. No one has any clue how it will actually play out. Will it gap down big and then green candle or does it pump first and then dump?
Can you just STFU for once about this V-reversal crap? Pay attention to the price action. What is it telling you? It shot up in the AM (by 100 points!!) but then it literally cratered back down to where it began by the close. That should tell you we ain't getting a V-reversal for a while.
Isn't this no different than if yesterday the ES broke out to new highs, then today it sold off almost to the breakout day's low, then rallied back and closed at the high of day? Maybe it seems odd because stocks had been on such a one way escalator for so many months. But looks like good price action to me.