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The overnight action. Media reports said the Chinese market lead the way down. Then, for no obvious reason a major Euro zone buy program triggered. That clearly ended well before the official New York open.
Clear from the orderbook background on the chart that the overnight low is major support this morning.
Clear from the indicators I follow we could be headed for chop.
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Twitter feed showing NASDAQ in a liner up move this morning. As Cramer says "Buy Buy Buy".
Goldman article this weekend (I only read headline) August is a big month for buybacks, 13% of the annual total.
Saw last week that 1st quarter buybacks annualized will mean over 1 trillion.
So if the market hits an all time high in low volume summer trading solely on buybacks isx it like scoring a goal on yourself?
my guess, just a guess, is it's uptrend day, although do not expect up big.
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Biggest bid ask delta bar of the day as the bulls step up and cross over the bid ask line to make the overnight high. 6,500 hundred contracts at 2844.75 and 2845.0
What I really find amazing is that Goldman only has to call a handful of CEO's to get the firepower to move the FAANGs and friends and drag the entire market, if they wish. The issue comes when the music stops. Continuing to cross the bid in a move up on zero news.