Something tells me someone had a FAT FINGER, sold instead of bought too many ES contracts. Look at the tape/chart......no news.....yup FAT FINGER in Asia!
Fat finger: it could some people with fat fingers who bought last week. They are bagholder with fat fingers.
Do you have a better explanation for the gyration RISKFREE? Someone entered a LARGE bad order on the wrong side, and covered, the market is almost back to where it was 30 minutes ago and NO news out.
Another reason why i never keep overnight. The STOP server is not your friend when the big dogs are sleeping in the barn and not on the porch. Daytrading in modern times is the safest way to play unrational game of change when idiots are allowed to purchase computers . .. 24 HOURS order entry. Welcome to the new world of making a fortune while others get the beauty sleep. 0930 to 1600 EST is plenty enough for sane people.
I have not looked at charts yet, so I cannot tell. But the market is due for a pullback. Do not you think? Too many bulls lately. If buyers decrease in number all of a sudden, and sellers appear to take their profits, what do you think will happen?