Large up moves on low volume I am always skeptical of. If the real market participants were participating it would be a worthy rally, but if its only trading programs using massive amounts of money to toy with the markets then its all worthless. WHY not let the market rest where the natural levels are. Traders who trade this market relying on liquidity and decent spreads are being blown out because you simply cannot compete with massive arb trading programs which will try SO hard to push any trade into your face. THIS is because there isn’t anyone to trade. Options markets are stagnant after the first 30 min of trading.
Goldman & Intel are in play today
Financials in play today
Market is gapping on CPI numbers