June S&P E-mini Futures: Today's range estimate is 1070-1090. I think the low at 1036.75 ended the drop from 1216. I had thought that the base building process was complete but the employment number this morning knocked the market back to the low end of its recent 1068-1105 trading range. A move to 1300 is underway
1076.50 – 1107.75 range last night (31.25 points) For the past 10 days, the over night range has averaged 21.3 points.
1070-1090 estimate for today (20 points) 1079 currently, so estimate is -9 to +11 from here (neutral)
Don't know the target for today, but I'm sure 1068 will be tested…. and possibly the 1040 area again? Regardless, we should be on our way to at least 988, maybe 944 by Tuesday. I'm just staying short, and watching patiently.
Carl’s morning call:
June S&P E-mini Futures: Today's range estimate is 1070-1090. I think the low at 1036.75 ended the drop from 1216. I had thought that the base building process was complete but the employment number this morning knocked the market back to the low end of its recent 1068-1105 trading range. A move to 1300 is underway
1076.50 – 1107.75 range last night (31.25 points)
For the past 10 days, the over night range has averaged 21.3 points.
1070-1090 estimate for today (20 points)
1079 currently, so estimate is -9 to +11 from here (neutral)
Should have added more yesterday. Now it will be a chase down.
the jobs numbers are a disaster.
Are you sure about Monday? If today a down day then the June 6th spiral signal says the trend reverses.
You're not long are you Pez?
Don't know the target for today, but I'm sure 1068 will be tested…. and possibly the 1040 area again? Regardless, we should be on our way to at least 988, maybe 944 by Tuesday. I'm just staying short, and watching patiently.
Of course, all bullish divergences on the 60min charts are secondary to global debt implosion
Obama is coming on TV again to try and save the market. This will probably be the only bounce today, so bulls should jump off the train at this time.
On Monday I expect Clint to hit the dynamite, as a gap down and continued selling is highly likely.
So, what's the target today? 1068? 1075?
Hey, Red, I was thinking that the only thing that would save us on the MACD buy signal would be a gap down, and looky here.
Thank's for the update Steveo…
Looks like the buying is over now, and it's time to start the selling.
Agree, i think the EUR issue is the key piece here