Midnight rally

See YM now up 23, ES up 2.50, NQ up 2.75..... its 2:10am cst.

 

ES : 10 MA at 1518.50, Upper Bollinger Band ( 20,2, Close )at 1533, Lower Bollinger Band at 1491

Market action depends on :
Date Currency Event GMT EDT CONSENSUS PREVIOUS
USD NAR Existing Home Sales (APR) 14:00 10:00 6.10M 6.12M
USD NAR Existing Home Sales (MoM) (APR) 14:00 10:00 -0.3% -8.4%

My expectation :
look for "bargain hunters" pushing the index higher to 1518.50, especially positive follow-through data on existing home sales underpinning economy is on track

 

And their you have it , just as I said, YM up 39, ES up 5.50, NQ up 7.00.

Presto!

 

It should be a crime, its like cheating.

 

What a crock!

 

congrats once again to all the MRC peeps$$$$$


great call once again!!

 

Just like I said, gap higher rise a little more than start selling. When you follow this for 5 year everyday tick by tick you become a much better trader.

 

So I'm not the only one who has seen this.

 

Should see YM 40 in the green, ES 5-6 in the green. Yep some things never change.

It's time again for the midnight rally gang.

 

THE BOY PLUNGER! What a good name.



Someone asked about the midnight rallies in ES. Some claim it's arb'ed to the asian markets.

Obviously it's MUCH easier to sway during off peak hours & I'm CERTAIN some play that way. Often the market gives back its predawn excesses...

During the decline I got some of my best fills overnight, typically between 3am and 5am CST on thin volume near the market's edges.

Do you think it'll make it all the way up to 929.50?

After today's sell-off the market's on the defensive, methinks.

GL!