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- Volatility continues to fall. No October/election panic yet.
Volatility continues to fall. No October/election panic yet.
Danny Riley
October 24, 2024
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Our View
Do you know why the ES rallies so much late in the day? Yes, yesterday's low was 5801, which was at HandelStats downside two standard deviations, but the other part was all the buying planned for the close. The algos go from running sell stops and sell programs until the cash starts firming, the offers shrink, and the bids increase. All the weak shorts who sold at low prices start to cover, and the bots run with it. Is the decline over? I don't think so. The ES just traded up to 5852.50, which is 51.50 points off the low and only 22.25 points off yesterday's day session high of 5874.75.