<i>"To commemorate the 12th gap up in the ES in the last 10 trading sessions, I just wanted to send some shout outs to my old school bear buddies
Frank Grimes, Detective, ByLowSellHi, Comanche, S270027, Austinp"</i>
Wrong guy, makloda. I'm a pure daytrader. When 4:15pm hits, I'm flat. The gap-up fluff has no impact on me, nor am I anything but flat overnight.
I did enjoy my first trade of the day short ES 1542 at 6:51:05am = covered 1539 at 7:25:50 for +3pts.
If they walk it higher into end-month / quarter as expected, I'm a buyer all the way. If they tank and plunge lower, I'm short all day.
Capiche`? Do you really?
I have no dog in the market-bias hunt. Obviously you do, unless you are a pure daytrader like me.
**
As for the gap & flat sessions on withering volume, it's applicable to your Fed slashing interest rates to save the stock market = consumer confidence. Plain & simple. The Fed has no other agenda than propping consumer confidence = spending, including fate of the USD and commodity prices.
Maybe the lows are in and new stock market highs are straight ahead. If the Fed cuts several more .50 moves, we can be sure the bullish party continues. If not, should get interesting the other way.
In any event, flat at the closing bell is a nice place to be. Keeps one from having any cares about what happens beyond there, from a purely selfish-trader point of perspective
