More likely a lesser pressure point..... The Market had its chance to really roll devastatingly over last week, on that 3.14 time pressure... ( Sept 11 2001 was the last time that time ratio came up) But will see how the alts go......
PTEN Would be idea if we had a flat 2 back down just below $13 to get it a good sling shot for the 3rd..... Daily PTEN
That 240min Globex... These types of pattern have a habit of lingering on, like the daily SPX pattern between June 06 & July 07...
Thanks Mup. PTEN certainly looks to be acting pretty bullish even with such a bearish fundamental backdrop... That having been said, HURRICANE season is here!
Ok, so here comes the sell-off with State Street leading the financials lower ( not enough reserves for their sub-prime stuff per their 10Q ) . . . retailers giving back last weeks gains, the energy sector pulling back a bit with crude off a touch. As we all know, this thing could "snowball" a bit after all of these gains that we've had and a lot of "overbought" sectors. Targets anyone?
Kb has the same... 992 is the next easy eyeball support level that comes into play if 999 lets go... (those pesky alt traffic lights But While 999 holds bulls can still hold the high ground... time and price on the 5min ES