Kudos to MMs

Quote from nitro:

"Cock the hammer it's time for aaaction. Cock the hammer...."
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Patience. Reevaluate at 1 CT. We have to mind the time of month. New money coming in, traders making it as expensive as possible. Sheep mutual funds fall for it every time. They say to themselves, look I bought the TWAP or VWAP and think they got a bargain.
 
Hmmm,

Very hard to say. Worth taking a short after hours if red imo. Otherwise trading against momentum is normally a losing game. This has not weakened enough to override what we see.

Let see what the AH maket does, even though gut says sell.
 
Patience. Reevaluate again at 1 CT.

I must have a strong bias, because I want no part of long. Yet, the market continues merrily higher on the same news, over and over again. It could be mutual-fund-beginning-of-month buying too, which often goes on for a few days.

There is a very strong seller right above here (~1122 SPX), but seemingly only in response to impulsive buying.
 
Quote from nitro:

Patience. Reevaluate again at 1 CT.

I must have a strong bias, because I want no part of long. Yet, the market continues merrily higher on the same news, over and over again. It could be mutual-fund-beginning-of-month buying too, which often goes on for a few days.

There is a very strong seller right above here (~1122 SPX), but seemingly only in response to impulsive buying.
More...
Nothing to be done. NQ is relatively weak which normally would signal lack of conviction by buyers, but this is far too quiet to make a directional bet. We therefore leave the buyer to continue to buy expensive and remove friction to doing so.

Live to fight another day.
 
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