this today 2/21 on Holiday=tomorrow 2/22=HUGE market moves=must note... We had these moves on a holiday today 2/21... SP futures -12.40 Gold futures +18.40 Oil futures +5.68 Silver futures +1.57 ...tomorrow, when NYSE, NASDAQ open...it gonna move!...thoughts, comments, strategies?
You've got a very strong move down.... more than likely we'll open with a considerable gap down. Therefore, you've got many longs that are trapped and will sell. You've also got a large amount of dips buyers coming in. Morning chop is very likely. I don't think its obvious which way the market will go tomorrow. We need to see how the pre-market moves on Tuesday morning to get a better indication of what will happen tomorrow.
Lets see FED doesn't want market and the economic psychology to turn negative. Options: 1: Markets remain closed aka 9/12 2: PPT steps in and holds market above DOW 12k (that is the public psycho gauge). 3: FED/SEC implement short ban aka like 2008. Happy trading.
let's throw in all this ec news coming out here http://www.nasdaq.com/asp/econodayframe.asp?page=http://anasdaq.econoday.com/byweek.asp?cust=nasdaq
I have a sneaking suspicion that the markets slowly recover throughout today, have a big jump up for the European open, get within a few points of break even before the open, and then go green 30 mins into the US session. That's the way this market has been behaving for the last year, no gap downs overnight will be tolerated. For reference, look at 1/14 to 1/18, MLK day in the US.
The S&P 500 will lift above Friday's high, which will also be a new 52 week high. Volatility to increase going forward. A rangebound market may develop for a period of months, with nice swings up and down.