OMG this is absolute madness! A market anomaly that is the most insane thing. SPY 185!
Or wait that SoyBean 999.75 thing was just as crazy. But anyway,, the 185 level for SPY is pretty heavy duty, and now it’s a very obvious thing. If you haven’t noticed, today is the 3rd day in a row of the SPY close at 185. Think it’s a coincidence? In the most volatility market in a long time what are chances it will close 185 3 days in a row. WTF!
Where do I begin..?
Check out the SPY daily.
Huge gaps and huge runs, but wait… Today’s action was real weird. Yellen spoke and the market went nuts and spiked way up to break to new session highs, but then look.
The /ES squeezed all fricken day on the 15min, of coarse until the end of the day when they stuck it to the 185 on SPY. When have you seen that before? Plus this morning crude dropped into the 27 range and it would usually take the market to lower levels, but the market didn’t give a shit cause Yellen opened her big mouth.
But the Yellen noise was again a huge backfire. The price action of the after hours market on the /ES has been almost as big as the daily. Nuts! The gaps have been huge.
So this is just some weird BS that I’ve notice the last few days. Here’s some posts from the last couple days to sum it all up.
2/9/16 –
2/8/16 –
So look out below. I don’t think we can hold this 185 for to much longer.