It's obviously the least expensive way to "prop" up the mkts. Nearly every attempt at an after hour selloff has been bid back up overnight. As bad as things are right now, it is critical that the markets stay on the upswing. For low vol overnight trading, some recommend a 30 min chart. I find a 50tick to be more tradeable.
Still working, gap open everyday last week. One down day yesterday Monday 5-11. But as everyone knows the selloff yesterday will be made up overnight, and we will gap open to the upside.
Gap open..... sideways all day, if you did not buy the close Friday you will have to fight for crumbs during the US session, as we ping pong in a 4 point range in ES all day long.
Just like I thought gap open sideways all day. Right now just buying and holding works better that intraday slop. I know the brokers don't like that. I suspect only a 30 point YM rally tonight. So by 6:00am cst YM will be up 30 points.
SP500 in a 6 point range. We can go for hours and only move 1 point. I can think of better ways to spend a summer afternoon. Just buy the cash close and watch the futures float higher overnight. What a great tool to manipulate the stock market.
Another sideways day until 2 minutes till cash close then we got a jam up. With the total lack of direction, I'm looking for the usual drift higher overnight. Then more sideways action. Everyone is sitting on there long positions, new longs are waiting for a pull back and stupid short are shorting intraday bearish formations. Here is a tip, don't short bearish formations when the trend is so strong to the upside. In other words bull market rules apply.