CL Redux

Quote from macattack:

Why is there usually such large volume & big moves on the 6:05 bar?

If the big guys already plan on buying why don't they fill their orders in the middle of the night?

It doesn't seem to make much sense for them to rush in all at once.
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I think that much of the movement up had to do with the news that lawmakers reached a deal on the debt ceiling, though it has not yet been passed of course.

That movement started happening around 8:20 or so. The spike up was quite usual in terms of timing, and due to the gravity of the news, it's not surprising that it moved quite strongly at the open.

The sharp move down was due to the worst ISM numbers since late 2009, well below forecast.
 
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