ES 1255.50 support?

Discussion in 'Trading' started by tradewiz, Jan 22, 2008.

  1. tradewiz

    tradewiz

    lots of activity here and it is holding so far, thoughts?
     
  2. you wont see those prices again in your lifetime.
     
  3. MTE

    MTE

    It's the overnight limit down level, hence the "support".
     

  4. anyway it's like some sort of arbitrage
    I made already 3 round trips 1255-1260
     
  5. tradewiz

    tradewiz

    what if it breaks down? how long will be the lock?
     
  6. Yeah, thats "new support".

    Maybe one more panic drop by the bell if we see that number again.
     
  7. MTE

    MTE

    Until regular hours. Check out CME for details on circuit breakers.
     
  8. We get another 70 points down in ES before the next limit so I wouldn't worry about it today. Its only a ten min halt anyway.
     
  9. Not clear on how overnight circuit breakers work, but ES futures clearly halted at 1255.50 for more than an hour at about 2-3 this morning, maybe longer.
     
  10. MTE

    MTE

    Actually, no, overnight they can't go down more than 70 points, period. Check out CME's website!
     
    #10     Jan 22, 2008