Oil fell, poised for the biggest
weekly drop in a month, on speculation U.S. economic growth
won’t be enough to boost demand amid increasing stockpiles.
Futures dropped as much as 1.1 percent before a U.S.
government report today that may show the economy of the world’s
biggest crude user expanded by 1.8 percent in the third quarter.
That would cap the first back-to-back readings of growth lower
than 2 percent since 2009. Stockpiles in the country have
climbed to the highest for this time of year since reporting
began in 1982. http://www.bloomberg.com/news/2012-10-26/oil-set-for-second-weekly-drop-as-supply-rises-amid-weak-economy.html
Yes it is, ES is 1401, and ready to snap lower into the early morning.
We could easily open up in the mid 1390s..with VIX +15% @ 20.
—
A lot will depend on GDP data, but…even so…who wants to be going long into this weekend? I can’t see anyone wanting to long across this last weekend in October.
ES positive divergence: http://niftychartsandpatterns.blogspot.in/2012/10/es-positive-divergence.html
Oil fell, poised for the biggest
weekly drop in a month, on speculation U.S. economic growth
won’t be enough to boost demand amid increasing stockpiles.
Futures dropped as much as 1.1 percent before a U.S.
government report today that may show the economy of the world’s
biggest crude user expanded by 1.8 percent in the third quarter.
That would cap the first back-to-back readings of growth lower
than 2 percent since 2009. Stockpiles in the country have
climbed to the highest for this time of year since reporting
began in 1982.
http://www.bloomberg.com/news/2012-10-26/oil-set-for-second-weekly-drop-as-supply-rises-amid-weak-economy.html
that was messed up. AAPL and AMZN down big, then almost to break even.
Yes it is, ES is 1401, and ready to snap lower into the early morning.
We could easily open up in the mid 1390s..with VIX +15% @ 20.
—
A lot will depend on GDP data, but…even so…who wants to be going long into this weekend? I can’t see anyone wanting to long across this last weekend in October.
Goodnight!
looking south
S&P 500 Analysis after closing bell: http://niftychartsandpatterns.blogspot.in/2012/10/s-500-analysis-after-closing-bell_26.html
Red, you’re overthinking all of this nonsense.
Weekly trend could not be any more bearish, could it?
Don’t get lost in the noise.
—
Bulls had THREE days to rally..and they FAILED.
Seeking a Friday close <1390, which would set up a major move on Monday.
–
NEU just out with special divy of $25 annoucnement in the after hours – looking for it to take off in the AM like HCA did
fridays are usually sell off days, so I do hope they gap the market up some
this is for special dividend announcements, not the regular quarterly ex dividend