Instead of selling into the London Fix at the COMEX where they can exert complete control they are buying.
I like to look at the one day chart and for a year or more the 8:30 AM slaughter lasting until noon has been very reliable. Big jumps in volume at that time of day and mostly on sell side. Today that action is swapped but volume spike remains intact. Buyers, lots of them, tripping over each other.
Day after a holiday and just as the world is being told how not dangerous a place it is. The Munich meet was a snooze.
There is no way possible the C-19 slow down is baked in to DJIA or any market. The stone dropped in the middle of the lake and the ripples have not reached shore yet. They will and when they do the exits will be jammed. I will be very surprised if the DJIA does not see a four figure drop one day (and close with half recouped) or a couple 600 point down days. If DJIA breaks below 28K POTUS will demand action. Boomers and 40+ year olds will want to preserve the gains seen the past few years, especially those who lived through a couple haircuts before and know it "always comes back" but can take 10+ years. How long was the NAS down from its previous ATH before it finally made it back above?
Lest us not forget the 1%ers have plenty of cushions to land on in a fall. Most the rest have none.