Fake down? Wait, does that mean the mkt didnt actually drop yesterday and all that volume that pushed prices lower was fake?
Sudden spike in ES? Looks like the fed just announced a couple of new measures to deal with the credit crunch.
Up opening after a selloff are almost always a fake out. The institutions are trying to create a fake rally on light volume so they can exit positions during trading hours at higher prices.
not in this case, one 5 min ES bar premkt at 120,000 lots means something. I didnt hear what the news was as of yet but obv the mkt liked it
International coordination to address the liquidity/credit crisis. ECB, Bank of Canada and Swiss bank are doing coordinated swap auction. At least that's the blurb I caught off Rick Santelli in the pits on CNBC. The main take-away, the international community is in good communication with the Fed and the markets should start to thaw some before the end of the year. Bernanke and the Fed is doing their job, just not communicating it very well to the markets. Good Luck!