Dr_Roboto
Long

S&P 500 end of day pump and dump?

AMEX:SPY   SPDR S&P 500 ETF TRUST
Market tracking along for a normal corrective wave, and then in the last 10 minutes a massive surge. A buying spike that fits no model. There was something similar to it a while back in a similar corrective wave that was quickly followed by a huge sell off.

Is the market just completely bonkers and head to 4000 this month or is this a good old fashion "pump and dump"?

Thoughts?

Comments

I have no clue but of I was a big institution that wanted to manipulate the market, this is what I would do when a key technical threshold is approaching. This has defineltly shaken off some bears. One more pump and when everyone thinks it going to 4000 ...... pull the rag out.
+3 Reply
ProfitHarvest ekaithula
@ekaithula, Wow, interesting insight. Big Money manipulation. We all knew they were going for one final FOMO to suck every last Retail dollar before bringing the hammer down.

It's wild watching this sucker bet play out!

Indicators say Bear case is strong and getting stronger.

Flip from panic level selling to soft buying on the TRIN is not and encouraging Bull sign haha.

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Ringding58 ekaithula
@ekaithula, Last friday, before close were some crazy pumps. Seem they wanted to form a better weekly/monthly candle. This market makes no sense. I stick to GOLD and EURO now.
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Elias369 ekaithula
@ekaithula, right on the nail
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The volume was anemic today until 3:45. That is not a true bull rally. I can just imagine some guys in a big institution being bored and having fun with the market.
+3 Reply
Dump is inevitable, we will see spy back going to 280
+2 Reply
Thinking the same thing. We had three 1 min candles with 1.5+m shares traded the last 15 mins on no news. It’s either someone covered a huge short during the cash hours(??) or... i have no idea. But you’re right. Usually those incoherent pumps are faded the next morning. On the other hand this market is irrational enough we may just be back to $340 before we even get to Q2.
+1 Reply
I have short position so i hope will be dump )
+1 Reply
Nice chart
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Good work
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