Thirteen Days Of Afternoon Futures Ramps in 3.5 Weeks (SPX)
|ES_F 30 min chart|
The futures ramp tonight inspired this post, from about 17:15 to 21:00 hrs we moved straight up from 1133 to 1139.50. This move was as large as the ACTUAL trading session move, yet on less than 1/3 the volume. I watched 1 and 2 contracts being taken on every single offer every few seconds for 2.5 hours. It is pathetic our entire global market can be moved more in the overnight session every single night with any notice.
The chat above represents 4 weeks of S&P500 futures, this is a continuous chart mind you. I have circled the late day ramps which start around 2PM ET time, which carry the market to close on highs. This has happened 13 times in just under 4 weeks. Obviously this ramps have been on low volume, but what the hell does that matter in a market where the normal simple logic behind supply and demand is totally ignored. There was i believe 1 down day during this period.