S&P 500 Emini Trades 36k Contracts In 1 Minute - All Time High
May 29, 2014 at 3:15 PM (QQQ,SPY,DIA,GLD,FB)
Unusual or Suspicious? 36K SP500 Emini Contracts Trade Hands In 1 Minute At All Time Historic High!
The market has been quiet all week as we linger sideways just under All Time Historic Highs. Holiday weeks such as the one we are currently in, which began with Memorial Day, can turn into an all week slumber fest. It appeared the market was simply operating under SOPA when today, out of the blue came a minute that will be marked with both questions and suspicions for days and weeks to come.
CFRN S&P Emini Weekly Trading Zones
Higher On Lower Volume
We've all been warned, especially in the world of stocks, to be suspicious of markets that make new highs on light volume. The reasons are varied and many of course hint at manipulation, book cooking and a laundry list of other things easily accomplished with lower priced stocks, particularly those trading under $5. The S&P 500 Emini however, is a beast of a different lineage. The amount of money required to artificially move price even on a light volume day, or overnight... is staggering. Which is part of my point, a billion dollars plus... did NOT move the market.
Bargian Hunter or Smart Money Heading For The Hills?
Honestly, it takes two to tango. So as desperately as someone or a cartel of someone's wanted to buy 36k S&P Emini contracts, there had to be someone, or a group of someone's, willing to take the other side of the trade. We've always wondered who bought the last contract at 1550 some years ago and who sold the last contract at 666. You did wonder, right?
So here we have another great mystery. Not only were the buyers and sellers able to consummate their transaction with a 1 penny spread, the minute before Wall Street closed @ 3:59PM EDT, futures do continue to trade until 4:15pm EDT before closing for a short break. However, in the following 15 minutes price never left the 1 penny range 1917/1918. The market remained frozen inside our Weekly Trading Zone until the Chicago Mercantile Exchange closed. The CME reopens at 4:30pm EDT and as of the current time, now 6:51pm EDT as I type, we have not strayed from the 1 point range.
S&P Emini "Billion Dollar" Minute
Billion Dollar Transaction Executes Inside CFRN Weekly Trading Zone
As all CFRN Partners and our radio audience are aware, we have had 1917/1918 as a Weekly Trading Zone now for 2 weeks. It is somewhat unusual to have identical Weekly Zones, back to back. It does happen, but not that often. We will not take credit for anything other than simply applying our standard mathematical formula we have used to publish the Weekly Zones for our Partners over the past 4 years.
It will be interesting to watch the headlines over the next few days as the world atempts to unravel what may be the greatest maket mystery of 2014, or as we're calling it - "The Billion Dollar Zone", although "The Billion Dollar Minute" has a nice ring to it as well. You decide...
