What caused the big move on Apr 27?

Discussion in 'Index Futures' started by herringtrader, Apr 28, 2006.

  1. Can someone tell me what news caused the big run up at 10:01 AM on Thursday?
  2. 10:00

    Everyone missed seeing it coming.
  3. Banjo


  4. yeah but...... where is the followthrough?.... Nas falling apart here.... hard to imagine YM and ES taking off without the nas ..... plus... look at all the topping tails staring at you in the daily ES at the 1320 area....... i see more sideways grind and chop!
  5. Banjo


    Maybe there isn't any follow through, just a one day lite up the shorts scenario. Event trading as opposed to a natural flow.
  6. Good explanation
  7. Banjo Bernanke quote and
    Yeah & usually dont watch CNBC midday/am; but did.

    And looks like something like cell phones or something like that/ Evelyn Wood speed reading,ES spike was starting before CNBC timely transcript comments which preceeded Fed remarks about easing .....

    Topping tails do effect day traders & do pay attention to them;
    first week/end in May may hint on how valid those are on longer trend.

    Actually Nas can & does diverge for months from YM,ES;
    NasdaQQQQ underlying stocks differ much from underlying DIA,SPY stocks.

    QQQQ has had trouble staying above 50 dma much of year;
    DIA,SPY,ES ,YM havent.
    You get enough ES topping tails, one can be a top area,, as you hinted.:cool: