i got nailed last thursday and expressed frustration in the psychology thread http://www.elitetrader.com/vb/showthread.php?s=&threadid=147723 becasue of that, fed day and a personal matter mid week, i stayed out and just watched today, but that move was exactly the kind of thing i was talking about it was a perfect example of T/A vicious fake jobs this market is handing out right and left - looked like a perfect double top breakdown, then 'BOOF!', the most unlikely move reaming everyone who was offguard
It was an interesting move because we broke the 846 resistance, so I thought we would sell off into the close. That move has no weight, as show by the last ticks of the day moving lower before the close.
Of course! The last ticks of the day are much more important than the 6.5 hours the market's open. ex post edit:You know, since you don't have that many posts, yet, you probably don't realize that quant and algo programs end the day flat, so of course you'll see selling at the end of the day.