Midnight rally

Quote from Rickshaw Man:

SUCCESS!!!!!!!!!!!!
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I waited all day for that dip and was rewarded for my patience. I know this wont last forever but one thing is for sure it will last for the rest of 2005.
 
70pts is around 1 standard deviation of the daily returns on the dow - 50pts is around 1 stdev of the distribution of intraday highs and lows from the opening price (using 15min bar data) - in genereal, i guess that perhaps for these reasons, plus the "round figure" factor, these levels might be inputs into statistical models - i ran the numbers a couple of months ago, so the above figures are from memory.
 
Who is pushing it up overnight, and why? I understand in downtrend, as funds can push up overnight on low volume, then short at open and cover end of day. But in uptrend?
 
Quote from vulture:

Midnight crew has finally got some help from the Europeans and the Japanese all gunning their markets higher as well.
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break up into all-time-highs territory next week at the latest? Nice power move overnite on the YM and lots of small cap stock charts setting up for big moves.
 
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