Not that optimistic. There will be resistance at the 1447 area: 1. a prior high 2. Istd dev move from today's close (ES options vol) 3. right by R1
I had a feeling that I should have taken that gain while the taking was still good. The Asian markets drop like hell, and the ES is down 20 points, around 1404....
fed does what? I dont see a discount rate cut here... http://www.federalreserve.gov/boarddocs/press/monetary/2007/20070817/default.htm edit.... ok, here is the dr cut http://www.federalreserve.gov/boarddocs/press/monetary/2007/200708172/default.htm
made me think of your remark from last week spectre. when the rate cut comes it will end trading careers.
US STOCKS-Futures turn higher as Fed cuts discount rate Friday, August 17, 2007 7:15:54 AM (GMT-05:00) Provided by: Reuters News (Updates to show futures gaining on Fed discount rate cut) NEW YORK, Aug 17 (Reuters) - U.S. stock index futures jumped on Friday after the Federal Reserve cut the discount rate 50 basis points to 5.75 percent. S&P 500 futures <SPc1> were up 15.5 points, above fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. They initially shot up as high as 45 points immediately after the statement. Dow Jones industrial average futures <DJc1> rose 121 points, and Nasdaq 100 <NDc1> futures gained 23.50 points. ((Reporting by Jennifer Coogan Editing by Kenneth Barry rm://jennifer.coogan.reuters.com@reuters.net Telephone: + 1 646-223-6125)) ((Multimedia versions of Reuters Top News are now available for: * 3000 Xtra: visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News: http://topnews.reuters.com)) Keywords: MARKETS STOCKS