It went like this: MSFT meh-report... The sky is falling, sell everything! AMD yeah-baby-report... Oh, my goodness, FOMO! I'll buy all these ch-ai-rs, they have AI! NVIDIA went down 10% and then up 10% (from yesterday's bottom), all within 24 hours
I honestly thought the month of July would end red by yesterday's close, but something's definitely up. I was positioned for a rally towards 5600 yesterday, but that failed massively. Not attempting to predict anything here, but 5600 most certainly seems possible. 5600 would be up 1.79 % from yesterday's close. Last trading day of July 2022 had a high print of 1.74 %. We had ONE day this year so far with a high print of 2.24 %. In 2023, there was 22 (!) days with a high print exceeding 1.5 %. The prior FOMC day this year saw a huge gap up on the Open. + 46. We've exceeded that by now. This could all crumble by the Open or on the Open, but I do know that I personally ain't shorting this anytime soon.
How can you know there's an algo running? Surely the e-mini futures market have a ton of players interacting at all times...?
its the intermittent spikes that are multi bar. The bars or vol would be both sided, but 90% are all on the upside since earnings FOMO.