You think a 3 point spike in 5 seconds is from strong buying... you need to catch up on market mechanics... stops are hit and then buying can come in.
i knew that should have been the reason to go long back in May and June when everything was tanking and everyone said 10,000...
Tomorrow should be interesting. This market is prone to a decent correction now. Either that or keep grinding up to 1400-1425. There is a massive brick wall in that area.
You have it half correct. When a high is made quickly, and then retreated quickly, it is said to be MM running the stops. It retreats because there are no solid buying supporting the high. If the market does not retreat immediately, then there must be "buyers" supporting it. Sure stops are being hit, but that's different than running the stops.
Give Thorn a break, he is short 1390 calls from the 1388 area but he has premium on his side. Worst case is he breaks even on the trade by Friday's close.