Discussion in 'Index Futures' started by grimer11, Mar 23, 2004.
Actually, it was me. Traders saw my 2 car buy order cross the tape and I had them rushing to cover. Ahhhhh, the power.
But 1096 was not only today's PIVOT POINT, but it is also a key 38.2% fibonacci retracement of the entire rally from March of 2002 to the recent highs.
that's why they're there for the moment.......this turd is circling the bowl.
Looks like you're seeing what you want to see - didn't look like particularly unusual volume and prices the morning zigzagged lower all morning inspite of the imagined intervention.
Now, if you suggested buying intervention during lunch near the 1091 intraday support zone - there still wasn't unusual volume but at least you'd have some price chart basis for the supposed conspiracy.
Looks like the Plunge Protection Team had took profits.
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