If I'm not around later today, it's because I've went downtown to get one of these new wonderful jobs Obama is touting. Their is a “job's fair” in town today, and I'm sure that I can find a great job, that pays 100k or more… as Obama says that everyone is great again now.
June S&P E-mini Futures: Today's range estimate is 1090-1110. I think the low at 1036.75 ended the drop from 1216. The base building process is pretty much complete. Reactions should now be about 10-20 points instead of the 30-40 points we saw during base building. Initial upside target is 1125. A move to 1300 is underway
1095.25 – 1104.75 range last night (9.50 points) For the past 10 days, the over night range has averaged 21.3 points.
1090-1110 estimate for today (20 points) 1101 currently, so estimate is -11 to +9 from here (neutral)
FTSE is testing resistance this morning, and it's not going well. We will probably plunge with them this morning. Could be a one-day field trip to 1073-ish and back, or the Big One, so you'll probably want to hang onto something.
Good Morning Gang…
If I'm not around later today, it's because I've went downtown to get one of these new wonderful jobs Obama is touting. Their is a “job's fair” in town today, and I'm sure that I can find a great job, that pays 100k or more… as Obama says that everyone is great again now.
Well, the ultimate bull is all cash at the moment, so he's not feeling it right now 🙂
The Bull-Bear spread is below 10%. Not quite at the levels we had during the lows in February, but very close.
http://aaii.com/sentimentsurvey/
From a macro standpoint – this is a daily read:
http://pragcap.com/
Helpful reading: Dr Elder
http://www.scribd.com/doc/9850865/Elder-Alexand…
Carl is the ultimate bull and I am the ultimate bear.
Thanks Rip – I was planning on hanging on to at least the close but my options are becoming worth less and less as the days pass on. . .
Carl’s morning call:
June S&P E-mini Futures: Today's range estimate is 1090-1110. I think the low at 1036.75 ended the drop from 1216. The base building process is pretty much complete. Reactions should now be about 10-20 points instead of the 30-40 points we saw during base building. Initial upside target is 1125. A move to 1300 is underway
1095.25 – 1104.75 range last night (9.50 points)
For the past 10 days, the over night range has averaged 21.3 points.
1090-1110 estimate for today (20 points)
1101 currently, so estimate is -11 to +9 from here (neutral)
As he said, the next hurdle is to get the 10 and 20 over the 50 on the daily..
FTSE is testing resistance this morning, and it's not going well. We will probably plunge with them this morning. Could be a one-day field trip to 1073-ish and back, or the Big One, so you'll probably want to hang onto something.