I just logged into my account to see what's up and saw that spike too. Came here to see if anyone knew. Just took off a few minutes ago.Quote from chaykapwr:
This is all I found to explain that massive run up
China C. Bank Zhou - China to play a bigger role is solving problems in Europe via the IMF & EFSF and will continue to invest in EZ gov debt
Any other reports?
Quote from bigsnack:
LOL. Also, I agree with the whole "footprint of the bots" approach. I wasn't around to trade when it was a more human market, but I feel like the bots have some pretty reliable patterns one can use to squeeze at least something out of the market.
For example, When you get high TICKs above +600 in the last 30-40 minutes, and they coincide with a new higher high on price. Don't think about it for a second and just buy any test of the 0 line on the TICK. Seriously. Average in if you have to, it's something that can be relied on regularly enough for profit. For me, there is always that moment where something changes in the market's behavior, and while your brain is chugging along trying to process, "Is this a fakeout or a legitimate move?" that is when you should be getting in. It's the hesitation that will kill you, because once you really can tell that it's an uptrend, you have probably missed the best entry available.
Here's a chart in the spirit of Tortoise:
Quote from chaykapwr:
by the way, this 56-65 is STRONG RESISTANCE . However, it is weakened significantly. If we are going to sell off, it will be from this area. If not, we will continue to grind up. Havent done analysis yet to provide targets.
If we break 1365, shorts are not advised.
Quote from fseitun:
Ammo: I must be stupid, but doesn't it look so OBVIOUS that we are going to see 50s again following the huge 10-pt rally of the last thirty minutes?
It looks like stealing candies from a baby, doesn't it? It's a gimme. Just load up long and you should be good for at least 2 points. It's free money!!
How come there was no follow thru in AH? Where are all those buyers now?
I don't know, I may be paranoid but whenever the market makes something look so obvious, the opposite is true usually.
To me it kind of felt like a giant flush out of late shorts and a pretty good looking bait for buyers.
I am likely wrong though and I am by no means calling top or anything like it. Just a silly observation, nothing really technical here.