ES Journal - 2019/2020

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wiesman02 said:
i cant find any news. Was that just a short squeeze
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I think it was a battle over the hourly close. Bears tried to push it down just before close, bulls tried to push it back in the channel but last seconds bears pushed it back down. So nobody won and we have another hour to choose direction.
 
I initially thought news myself, but maybe there's simply a lot of resting orders and otherwise interest around the 3K level.

Just a thought.

On the contrary - there wasn't anything magic about the 3K level when we took it out from below earlier this week.
 
syswizard said:
WTF ! Was this algos or short covering or both ?
Crazy move. Maybe we'll get another one when Trump talks.
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I am more and more convinced that these spikes are market manipulations. Each time it happens volume is low just before it happens and then volume goes 20 times higher. When it started we went down almost 10 points in 10 seconds (volume 7600 contracts) and the next 10 seconds up 7 points.
 
virtusa said:
I am more and more convinced that these spikes are market manipulations. Each time it happens volume is low just before it happens and then volume goes 20 times higher. When it started we went down almost 10 points in 10 seconds (volume 7600 contracts) and the next 10 seconds up 7 points.
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Somebody makes a lot of money in those moves. We aren't invited to the meetings. We aren't in the club.
 
Relentless said:
Was just about to @SPYgrain and ask what you were seeing! Always value your insights.

Mind sharing what makes you think we have some more updraft yet?

Good to hear from you!
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Sorry for the slow response Relent,
on 60 min chart we broke up above the 2965 area which was a lid since 4/29..then a successful re-test with another leg up to highs yesterday...generally fakeouts will reverse on 2nd leg failure..b/c re-test held, we should get another leg up first..
 
Zero Hedge

Stocks Panic-Bid After Trump-China "Nuclear Option" Headlines

byTyler Durden
Fri, 05/29/2020 - 13:00
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"nuclear option"of sanctions of China's finance sector and the US equity market (after a brief dip) goes vertical...

  • *TRUMP WEIGHS SANCTIONS ON CHINA FINANCE SECTOR OVER HONG KONG

  • *TRUMP MAY ALSO IMPOSE RESTRICTIONS ON GRADUATE STUDENT VISAS
An initial 50 point drop in The Dow was met by a wall of buying lifting it almost 300 points off the lows...
 
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