Post Market S&P Update (SPY)
|ES_F 1 min|
Today was an interesting day to say the least, we added another 1.54% to yesterdays 2.2% gain to bring us to 4% in two days on nothing but more spun economic numbers and perfectly timed Fed press conferences and releases of data. As you saw i posted last night on the interesting things going on in the metals space, gold, palladium, platinum and dollar weakness.
This foreshadowed todays action. Tuesday’s massive selling at the close was the set up to get shorts in and rip their faces off as buy program after buy program hit even baffling trading in the pits. Bulls are confused as to why we moved so far so fast and the bears… well are not to happy to say the least.
|Palladium 1 min|
Today we opened at 1206 with buying buying buying on alright volume. we hit 1216 and then traded in a channel up to 1222.. After hours we ramped another 2.2 handles for shits and giggles. You can see the channel in the chart up to the left.. and you can see the lines i drew from the box which i highlighted yesterday.