Market Thoughts Going Forward.

Discussion in 'Index Futures' started by Viki, Sep 12, 2007.

  1. Viki


    For upcoming September 13th, 2007

    Today was an interesting, if not somewhat slow day for me on the indices.

    The Russell, The DJ Transports, (-0.76%) DJ Composite had good down moves, whereas the S&P 500 cash and the Dow Industrials held more or less neutral, with the Industrials off just 0.13%. This is clearly negative divergence. Also, the only index that had reasonable upside was the Dow Utilities (up 0.23%). The utils going up are often a sign of bearish behavior.

    Market action lacked conviction and trade volume in the S&P pit was light most of the day, add to the fact that many Jewish traders are off due to the new year.

    Dow Industrials failed for a second day to close above the 61.8% retracement of the 4th - 10th Sep High-Low period.

    Sell into strength with a close stop.
  2. rdm239


    Its tough to trade anything besides short term momentum in this mkt. The only thing that will really move the mkt is news about the Fed's next move. Don't get caught up in the chop trying to see something thats not there.