It does look that way doesn't it? Takes more than a day or 2 to break the mentality. Meanwhile, some of us have been taking shortside only, leaving countermoves to the gurus, and not posting.
if you've been watching the media newswires, the institutions are creating a setup for a FOMC rally event. They are raising expectations for a possible rate increase and when a rate increase doesnt materialize, they rally it.
Yesterdays close was 13461. Right now, new contract is trading at 13462. They have successfully washed away the premium for the rollovers. Volume and price action suggests flattening or reversing rather than rolls howver.