although there is no marginal buyer for UST and the fed now buys 70% of all UST, and if they cease POMO there will be no one to replace the FED – a strong NFP tommorrow and the UN announcing highest food prices on record for FEB. http://www.zerohedge.com/article/food-prices-hit-new-all-time-record-february , and as well the ECB dropped the extended period clause from their statement – which means they are ready to raise rates, all this equals a FED ability to QE is limited. The effects of this on the equities will be immediate i think. so the better the number tommorrow, the more the sell off….just thinking out loud
Ok you should have now – was stuck in my outbox…..hard to tell high, low
and volume but here is my best guess – volume 25000 ish, 132.25 ish high and
123.03 as low
Well, looks like the odds of a crash on Friday just fell off a cliff, as the bulls are certainly going go gap over the resistance at 1320 this morning. While it’s still possible that we tank on Friday, the odds are much lower now.
If the bulls also take out the 1332.09 high, then Friday is a dude. We will then be looking for next Friday, March 11th, as Lindsey Williams mentioned.
Smart thinking Richie…. and YES, that’s exactly what would likely happen.
Here’s Dee’s FP of 123.03 spy…
http://reddragonleo.com/wp-content/uploads/fp-spy-123-03-on-03-03-2011.bmp
red,
although there is no marginal buyer for UST and the fed now buys 70% of all UST, and if they cease POMO there will be no one to replace the FED – a strong NFP tommorrow and the UN announcing highest food prices on record for FEB. http://www.zerohedge.com/article/food-prices-hit-new-all-time-record-february , and as well the ECB dropped the extended period clause from their statement – which means they are ready to raise rates, all this equals a FED ability to QE is limited. The effects of this on the equities will be immediate i think. so the better the number tommorrow, the more the sell off….just thinking out loud
Ok you should have now – was stuck in my outbox…..hard to tell high, low
and volume but here is my best guess – volume 25000 ish, 132.25 ish high and
123.03 as low
Dee, I don’t have your email yet? Can you get the volume on that print with the high, low, open, close too? Thanks…
Well, looks like the odds of a crash on Friday just fell off a cliff, as the bulls are certainly going go gap over the resistance at 1320 this morning. While it’s still possible that we tank on Friday, the odds are much lower now.
If the bulls also take out the 1332.09 high, then Friday is a dude. We will then be looking for next Friday, March 11th, as Lindsey Williams mentioned.
Correction 123.03
I hope these lower FPs play out
ES Chart: http://niftychartsandpatterns.blogspot.com/2011/03/s-500-before-opening-bell_03.html
Red just emailed you a FP on SPY of 123.38 from just a couple minutes ago
SPY premarket up a buck.
dang nab it.