Its easy to lift the futures, look at the number of contracts traded, and look at the percentage gain. Watch the internals the AD line, advancing volume , declining volume. It may just be a pump and dump for the financials. SP, DOW are below their 200 day moving averages. I personally think this bull market is in a transition to a bear market.
Yes, it could well be a dead cat bounce. Best to be cautious on a day like today and not throw a lot of size into it.
I'm watching time and sales in the index futures, seems as though offers are being lifted and get tapped with small lots. Then the bids are getting hit all the way up with much larger size. Check it out for yourself, looks like the squeeze is on. Not much conviction so far. buy buy buy. AD a little over 2-1 positive, compare that to 3-1 negative during the sell off. Oh and is it option expatriation week wheee.
What's the point of this thread again? I don't see it. Stocks are bouncing from an extreme oversold condition. Business as usual.
just following up on your sprong comment that you were not trading the eminis...please share your thoughts with all of us...thanks!
Volume traded in the index futures light today in comparison to the last 5 trading days. The day is not over, lets see how it finishes. Do you really think their is going to be big volume when the futures are up 1% overnight not likely.