June S&P E-mini Futures: Today's range estimate is 1065-1085. I think the low at 1036.75 ended the drop from 1216. I had thought that the “base building” process was over, but instead we have seen another break of more than thirty points. I believe the drop from Friday's early high at 1107 will end above the low at 1055.50 made late on May 26. Once the market stabilizes a move to 1300 will start.
1069 – 1096 range last 2 nights (27 points) For the past 8 days, the over night range has averaged 24 points.
1065-1085 estimate for today (20 points) 1074 currently, so estimate is -9 to +11 from here (neutral)
Very encouraging morning on FTSE; last Thursday and Friday they were above their 'teal line' (12dma is what I use for very short term containment) and pressing 20dma, today are back below.
Yeah, I kind of thought that Friday might be the last up move before move selling. But, I tried to cover all possibilities in my video's. Looks like my gut wins out this time.
This morning on CNBC a commentary talked about moving averages and how anyone that pays attention to them is bound to lose,
It was surprising as i believe the 50 is the only true trend for mid to long term
Staying long term bearish until ~SPX 920 and short term trying to play potential bounces. However, I just got stopped out of some of the bounce play 🙁
Pez,
Are you long? I hope not, as I'm not expecting any large bounce to get out on.
“Looks like I picked the wrong week to quit sniffing glue” — Airplane the movie
Carl’s morning call:
June S&P E-mini Futures: Today's range estimate is 1065-1085. I think the low at 1036.75 ended the drop from 1216. I had thought that the “base building” process was over, but instead we have seen another break of more than thirty points. I believe the drop from Friday's early high at 1107 will end above the low at 1055.50 made late on May 26. Once the market stabilizes a move to 1300 will start.
1069 – 1096 range last 2 nights (27 points)
For the past 8 days, the over night range has averaged 24 points.
1065-1085 estimate for today (20 points)
1074 currently, so estimate is -9 to +11 from here (neutral)
Futures are surprising.
You may see your gap down.
But my bet is the bulls pull it out today.
Very encouraging morning on FTSE; last Thursday and Friday they were above their 'teal line' (12dma is what I use for very short term containment) and pressing 20dma, today are back below.
“I've fallen and I can't get up”?
EURO VS USD MIGHT GET A BOUNCE FROM 1215000 AREA
http://niftychartsandpatterns.blogspot.com/2010…
Another tool in the arsenal to better our odds.
Yeah, I kind of thought that Friday might be the last up move before move selling. But, I tried to cover all possibilities in my video's. Looks like my gut wins out this time.