The S&P 500 could not care any less about Europe than it already does. The only news this market needs is the announcement that Congress and the President have a deal that is passed and signed to extend the unemployment top-up. This market will continue to work its way lower until that plan is done and approved and the money is ready to roll. The market will drop until the politicians feel the same pain they felt in March if they do not get their act together. It will drop for precisely that reason: To punish the pols and their delays and inaction. Sell the rips is back in session until further notice. No more all time highs until that plan is approved. EDIT: GOP was to announce their plan this evening. They have now put it off until Monday. No more new highs of any type, other than $VIX, until that plan is approved.
I was just speaking about the futures, not the main index. Generally speaking, when Euro/Asia has good numbers, the US futures follow during the night.
Sorry for the off-topic. I felt it appropriate to update... Stop placed on GLD @ 173.66, just under yest low. Looks like this metal party is nearing an end, for now. Will be monitoring and adjusting in my favor only. 185 or so is still possible. 6E is in critical zone. Protective swing stop is in place. That means an acceptable (to me) giveback. But not of the B1 type. Yes, this is me changing stripes on gold, and possibly the Euro, my longer term (for me) holdings. Something to note... gold has been rising while the markets have been rising. Keep that in mind you have a conversation with anyone who spews the opposite junk.
Well, yeah! It wouldn't be prudent to dismiss it. Here's last night in the NQ... The first vertical line is the ETH open, and the price is there on the right...10834. Something happened around Midnight ET that caused it to jump 100 points, to peak where you see the second vertical line. Shit happens in the overnight session, man.
I thought I was making it sound like something that happens. You know, 100 point moves in a short amount of time in the overnight session, like it does during the US day...? Which is more important than the other? Who cares? Long as we make money with it.
Spot on as usual. Great observation! Were you able to get back in after getting bumped out early on that B/E stop?
no, went to bed..ideally would have reversed but didn't want to hold long overnight - caught somma the short today as Spooz indicated above - hoping to sell around 50 in am