Weekly Poll: No Bias For Next Week, But Mother-in-law Tells Me To Sell

Here comes the magic bid up.

 

And there we go, green.

 

No volume run up as algos and computers are the only one's buying.

Boring as hell at the moment.

 

how do you read your chart?

 

hanging ~1.5% away from the recent low - the bulls need to be more convincing and SOON!

 

The spike down in red is the cum volume comparison.

 

ES keeps dropping, at 1059 now, down 1% from close.

Another Flash Drop tomorrow?

 

Tomorrow who knows what happens, Friday you felt the buying as soon as the market opened, news out of Europe is going to keep the markets second guessing and that means volatility, also take notice of the Libor....

I'm hoping for a close below 10,000 again so that cnbc can go crazy wild when the dow closes back above 10k for the 1000th time.



*S&P FUT
1059.6 -11.4 -1.06%
*DOW FUT
9950.0 -93.0 -0.93%
*NAS FUT
1792.75 -19.75 -1.09%

 

Buying the gap on Friday WAS the right move. Buying gaps are very profitable as overnight markets swing due to brokers, eg. IB giving margin calls and sending market orders each level down. Gaps are often filled but are risky -- if you play every one of them the right way, you will come out ahead.

 

Would be interesting to see if the gap down is bought tomorrow morning or if the futures gain back all losses magically overnight.

Aside from that spx 1040 is getting closer and closer, its going to take a heck of amount of selling to get it down to that level tomorrow, if it does I would be buying for somewhat of a bounce. Looks to be important area for tomorrow, a break and close below that and I think a break below 1000 comes soon after.