I am not sure if you watch the volume but I am pretty sure there is some new black box trading about 1000 contracts. I noticed this several weeks ago and that is what is making those fast moves about 2 points, sometimes more. I watch it really closely now, I hate to be on the wrong side of the trade when this thing kicks in.
** I've seen similar things. I'm curious to know whether they push, then reverse at those exhaustive bars (end of move). ** I would have loved to work at an I-bank and see what strategies they employed.
Today's action is just the opposite of yesterday's action in that long hour after 2:00 PM. Yesterday, all TA indicators were pointing down, but the price stayed at the same level for an hour. Then in the last 30 minutes, they tanked it and let it go. That's the TOP. Today, all TA indicators were pointing up after 2:00 PM, but the price stayed at the same low level for an hour, then in the last 30 minutes, they let it go up. That's the BOTTOM. I've posted yesterday afternoon's chart, look at the short-term MACD and long-term MACDs for this afternoon, all has been up (higher high) since 2:00 PM. ADX has been falling (selling pressure was much reduced), so accumulation was going on. I would think the big black box orders would happen near the top or the bottom. So have we observed a nice pattern and play with it? Divergence trading at the best.
Try to work for Goldman. Each of the 2200 Goldman Sachs' employees will receive a $500K bonus at the end of the year. So go figure how many points these Goldman boys pull each day. http://news.efinancialcareers.com/PAY_ITEM/newsItemId-5145
Hi Trade4 Another option is to go the ET chat room. I just found out they had one a few days ago. You can't post pictures like you can with ensign but its decent. Peace.