This market has been fast and that acceleration in velocity has been a tonal shift in and of itself. Many of you do not like processes. They are the red tape in life which separates the have’s from the have not’s. What we are seeing today is by no means an all clear flag to pile back into longs, and let’s be clear, that flag doesn’t exist. What is occurring today is a neutral print on the Nasdaq. These start to show up near inflection points. The market is making an earnest attempt to squeeze shorts into the weekend.
With all the fear mongering taking place on the news channels it would only be appropriate to release some pressure on a book which might have become ‘too short’. The buyers started this move early which means they are now tasked with sustaining the action for another hour and 15 minutes. Believe me when I tell you the closing bell can’t come soon enough for buyers.
The range is already abnormal for an upside day. Extending from here would lead me to presume something indeed is afoot. Someone is front running the grand scheme of beating the living daylights out of equity prices ahead of Q4 to boost performance metrics in the final quarter. This is merely a cynic’s words.
IN short, this is not normal, it is a feather in the bull cap, and no matter which side of the fence you reside on, its best you wear a helmet.
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started feeling like video time 2:25 over here