pressure is building across capital markets, while most people's attention is being diverted to the “rally” in the indexes, people ought to be directing their energy towards this chart of the $TNX http://www.flickr.com/photos/47091634@N04/44600…
I think staying out may be good right now. Either we make a fairly substantial move down for the next week or so and then bounce back to new highs, or we are near the lows of the day and we go higher for the final top here in the next week. I wish I knew. We have to get to Sundancers containment points on the S&P and IYR I think. Wish we do that sooner rather than later.
June S&P E-mini Futures: Today's range estimate is 1161 – 1175. I think a move to 1200 is underway. First upside target is 1175.
1159 -1170.50 actual yesterday (11.50 points) 1162 (last night's low) 1161-1175 estimate for today (14 points) 1165.50 currently, so estimate is -4.50 to +9.50 from here (bullish)
I started to think that if the market were to topple out, some catalyst would have to be blamed for the market's demise. Look at these two headlines on Yahoo tonight – interesting.
I actually hope it does.
Looks like it could break either way, but from today's action I'd say it wants to break up.
pressure is building across capital markets, while most people's attention is being diverted to the “rally” in the indexes, people ought to be directing their energy towards this chart of the $TNX
http://www.flickr.com/photos/47091634@N04/44600…
Bad news in home sales. Guess that means it will be a while before we get to that containment level in the IYR.
That should be some good news for the market bears… if they continue to trade the opposite?
I think staying out may be good right now. Either we make a fairly substantial move down for the next week or so and then bounce back to new highs, or we are near the lows of the day and we go higher for the final top here in the next week. I wish I knew. We have to get to Sundancers containment points on the S&P and IYR I think. Wish we do that sooner rather than later.
problems for the dollar bears…
dollar gapped above 4 containment pts.
the green line is the last line of defense for the dollar bears
http://www.flickr.com/photos/47091634@N04/44600…
If only I was as good a trade…
Carl’s morning call:
June S&P E-mini Futures: Today's range estimate is 1161 – 1175. I think a move to 1200 is underway. First upside target is 1175.
1159 -1170.50 actual yesterday (11.50 points)
1162 (last night's low)
1161-1175 estimate for today (14 points)
1165.50 currently, so estimate is -4.50 to +9.50 from here (bullish)
I started to think that if the market were to topple out, some catalyst would have to be blamed for the market's demise. Look at these two headlines on Yahoo tonight – interesting.
http://news.yahoo.com/s/mcclatchy/20100323/wl_m…
http://news.yahoo.com/s/nm/20100324/wl_nm/us_ir…