Yes, I know. That overnight limit down happened early morning January 22, 2008. I was just pointing out that different limit rules apply overnight than apply RTH.
..as a renouned poster once said.. ....'lot of trading careers ended over the weekend.' 1276... is resistance in sep contracts.. expecting 1180 as fall/winter rolls in, the media is getting gloomy again. Price action is a function of sentiment and sentiment is a function of price action. Thus if you can paint the media with a very gloomy tint as winter rolls in, price action will follow on the larger timeframes. all timeframes trade the same way.
Knew I should have taken that long on the regal reverse indicator! At least I got out of my last short near the close on Friday.
watching 1260 on sp500 ($spx.x) or the cash, key support there. If you look at a long term chart you will see that the market's first attempt at a double bottom did not hold. If we trade under 1260 on the cash then I imagine we will test lower. Good trading.
Last time, when Fed did the surprise move, people sell it all the way back down. Do you really think that they will let it happen again? I think not. At least not until after Sep contract expired.
Ahem! What I said, not asked, was rather a rhetorical (aka cynical) remark that didn't require a response. As for today's high, I have a target at 1290. Tomorrow, we'll retrace by at least 50% of today's advance. But don't take this noob's once shy and trice bitten prediction at face value. Any thoughts?