Todays massive up move in the market

[vincentvega]

Quote from bonds:

Today we get a 290 pt up move in the Dow on anemic volume, no real reason for the move some saying short covering some saying hope for a bailout of Spain who knows...

but im just wondering how this market can move up so easily for no reason and with no volume, when last friday we get a horrible jobs number, bad news from china and europe, heavy heavy volume, and the market is down less than todays up move with no news...

is the path of least resistance to the market upwards? are we going back to highs? is there any reason the market cant keep floating up on low volume back to highs as long as we have days with no news?

What instrument are you looking at? Volume movements are very different on all instruments - you need to look at multiple instruments, with a bias toward the most liquid (ES).

For example, the 6e gets arbitraged every day, so the order data is useless.

 

[Shanb]

Quote from R. Raskolnikov:

Have you ever tried just trading the action as it's presented and NOT being obsessed with all the noise?

WORD

 

[bonds]

Well Bernanke spoke today and no mention of any QE, market is still moving up another 100 on top of yesterdays 300, gold getting crushed on no mention of QE, so there must be another reason for the move up

 

[bonds]

And even with the downgrade of Spain market is still going up... no stopping it now

 

[tradingjournals]

Quote from bonds:

Well Bernanke spoke today and no mention of any QE, market is still moving up another 100 on top of yesterdays 300, gold getting crushed on no mention of QE, so there must be another reason for the move up

The only valid answers to a move are before the fact, and not after the fact. So even if someone were to give an answer, then it cannot be the explanatory reason.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=243884

 

[bonds]

I still dont understand why gold, oil, and other commodities are selling off on the china rate cut and no qe talk from Bernanke yet equities continue to surge.

I guess thats besides the point...

 

[tradingjournals]

Quote from bonds:

I still dont understand why gold, oil, and other commodities are selling off on the china rate cut and no qe talk from Bernanke yet equities continue to surge.

I believe I have the answer to your above question, but I guess it is beside the point.

 

[bonds]

Quote from tradingjournals:

I believe I have the answer to your above question, but I guess it is beside the point.

sure id like to know lol

 

[flipside21]

Quote from bonds:

I still dont understand why gold, oil, and other commodities are selling off on the china rate cut and no qe talk from Bernanke yet equities continue to surge.

I guess thats besides the point...

There you go. Stocks are in the red now.

 

[bonds]

Quote from flipside21:

There you go. Stocks are in the red now.

well that doesnt really justify why they were up so much to begin with but I guess thats the irrational stock market for you