What the hell is going on? Who or what caused this? We basically had yesterday's upward price movement, that took all day to unfold, over just 90 minutes today. Theories? (And considering the swings over this past week, I suspect a CME margin increase notice for equity indices coming down the pipe rather soonish.)
%% Most likely trying to push DOW/DIA positive 2018.IBD warned years ago ,DOW is easier to manipulate than S&P 500.Fairly mild for a bear rally. No wonder the long short hedge fun kept some longs- he did not want to push the price up LOL. I remember the S&P500 + NASDAQ chart in 2008 bear, FED cut rate, suprize, market upticked for 20 days/+ , then bear resumed below 200 dma, which it touched +close above some, late 2007+2008. NOT a prediction.
Bull trap. Market's last frantic attempt to land the year in the positive territory given it's the last day of trading for 2008 tomorrow. Very quiet day and a down day tomorrow.
I was monitoring Eurex/Euronext futures as that rebound unfolded in the Emini futures. It begin first in Eurex/Euronext futures prior to the Emini futures fighting back via holding a support area that I was not paying much attention too around 2:20pm est...later confirmed via the price action of 2:30pm est. I saw several news stories out of Europe around that time too but that too I didn't pay much attention to. Regardless, I'm a little shocked that CME margin increases has not occurred by now. I thought for sure it would have occurred towards the end of October going into all of the recent headline news (e.g. gov. shutdown). Maybe they need more dramatic volatility or dramatic swings to be convince its time to increase margin requirements ??? wrbtrader