Gotta love ZERO RISK in the SP500 = $$$

SteveM said:
Can't argue with anything you've said there - I just think it is alarming to see how stocks are reacting to small moves in the treasury market.

Take today for example. The Fed releases a "nothing has changed with our plans" Fed minutes report, and the /ES initially ramps up, only to tank 50-handles in reaction to the treasury sell-off. Haven't seen a selloff like that in reaction to Fed minutes in a long time.

Maybe it's all meaningless, but it seems to me that stocks are having to some pretty violent downside moves lately in reaction to relatively small increases in treasury yields.
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This is certainly the type of gyrations that occur near major turning points. Question is how long will this go on. After watching Tuesdays and Wednesdays action, one would think the bears are gaining the upper hand. Then the magic futures...MAGICALY rise overnight to basically erase the losses. Index futures the perfect tool for manipulation.
 
Visaria said:
Looking for hopefully a bit more upside to the dow future, before coming back down and trading in a narrow range for the day...a few Fed reserve dudes are speaking today, hopefully just some waffle, nothing market moving and crude oil figures are out at 4pm gmt which might cause some vol but other than that nothing. Bond futures are up atm...as long as no sell off there, should be relatively quiet day.
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So far this is playing out...assuming we have hit the highs of the day and market now ranges (note the range is already 400+ points on the YM)...I would expect a big move up tomorrow.

If you are gonna play more today, probably be a lotta chop. I'm out, no more trading i think...maybe do something near the close.
 
Bought the bar5 close (5M chart) and scalped out as bar8 was forming...wanted to hold longer but got nervous with the 5M20EMA sitting above price (on RTH chart, not globex hours chart) and thought we might fail once touching it. Probably should have held longer expecting a 2nd leg higher even if we pulled back a bit.
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