June S&P E-mini Futures: Today's range estimate is 1147 – 1161. The ES should reach the 1200 level by the end of May.
1145.50-1155.75 range yesterday 1159.50 high overnight 1147-1161 range estimate today (June contract) 14 points 1157.50 currently, so -10.50 to + 3.50 from here (Bearish)
My thoughts- all the technical conditions within the next two days should make the market ripe fro a major sell off (except for the dollar needs to rally but maybe a small sell off would actually spark that). The government says the healthcare plan resolution will be announced within 72 hours. I believe they will hold the market up until then and maybe for a day after (so it doesn't look like the market sold off because of a passed plan). Maybe the day after the plan passes (over the weekend), the government will stage a major catastrophe (perhaps in the middle east) so that a market sell off can then be attributed to something besides the health care plan. I know it sounds like a conspiracy theory, but I am beginning to believe in them 🙂
Thanks – besides UUP is there anything else we have to wait for?
XLF prints 15.82, completing it's bullish setup on a day when 3 sequences align, I'm sure it's just a coincidence
http://www.flickr.com/photos/47091634@N04/44234…
I remember seeing it one other time 🙂
Take a look at Serge's post today. Anna also seems to be expecting a drop. But Anna says she would cover all shorts. I don't know why though.
Wow He is actually bearish for once?
Carl's morning call:
June S&P E-mini Futures: Today's range estimate is 1147 – 1161. The ES should reach the 1200 level by the end of May.
1145.50-1155.75 range yesterday
1159.50 high overnight
1147-1161 range estimate today (June contract) 14 points
1157.50 currently, so -10.50 to + 3.50 from here (Bearish)
Does Monday 3/22/2010 hold any significance?
Here's a “conspiracy theory” for you… the government is honest. LOL Anyone believing that one has to be insane!
My thoughts- all the technical conditions within the next two days should make the market ripe fro a major sell off (except for the dollar needs to rally but maybe a small sell off would actually spark that). The government says the healthcare plan resolution will be announced within 72 hours. I believe they will hold the market up until then and maybe for a day after (so it doesn't look like the market sold off because of a passed plan). Maybe the day after the plan passes (over the weekend), the government will stage a major catastrophe (perhaps in the middle east) so that a market sell off can then be attributed to something besides the health care plan. I know it sounds like a conspiracy theory, but I am beginning to believe in them 🙂
Very freaky! If they dump the market today, that would just blow my mind!