Pretty larger orders (algo) went off. Anyone know who it was and why? To me it seems like a logical place to take long term profits and that is all it was.
I was long UVXY 250shares excited to start scaling but it pivoted. High volatility move, thought it was headline reaction. VIX spike = frothy market Futs traders, there's likely a good aftermarket/premkt earnings release trade setup/arb opp this week? still closed > over pdh
Odd isn't it, major selling everywhere, looked like the BEAR is back and hungry and suddenly a switch in direction. UK and DAX sold off like crazy before US Open aswell. Open -1 hour hit by a nuke, no scheduled news or news at that time I can see, China shacky recovery but shouldn't be that major, if not even a good thing for the US??
This was the news at the time: “Senate Majority Leader Chuck Schumer (D-N.Y.) said Monday that he’s aiming to pass a new federal coronavirus relief bill “in the next month, month and a half,” Bloombergfirst reported, meaning that it could be mid-March or longer before Americans see any more relief from Congress. ”
Yeah that's what I thought when it did a full vs mean reversion reversal... thx re Schumer cv headline... I was like wtf caused this big drop
Perfect example of one of those patterns that happens over and over and over again. Drop into the midmorning, with a rise into the close. Today's was healthy and hearty. 50 points on ES, 250ish points on NQ? Fantastic!