I felt that the break yesterday was very orderly selling with no panic at all. This just tells me that the Middle East news was just a catalyst for what was going to happen anyway. As for today I will be a seller as long as we stay below the daily pivot of 1321.25. Failure to hold 1312. Should bring in sellers and take us down to 1303. Where I will be small buyer.
I felt that the break yesterday was very orderly selling with no panic at all. This just tells me that the Middle East news was just a catalyst for what was going to happen anyway. As for today I will be a seller as long as we stay below the daily pivot of 1321.25. Failure to hold 1312. Should bring in sellers and take us down to 1303. Where I will be small buyer.
I felt that the break yesterday was very orderly selling with no panic at all. This just tells me that the Middle East news was just a catalyst for what was going to happen anyway. As for today I will be a seller as long as we stay below the daily pivot of 1321.25. Failure to hold 1312. Should bring in sellers and take us down to 1303. Where I will be small buyer.
Today will tell us what yesterday really was. I felt that the break yesterday was very orderly selling with no panic at all. This just tells me that the Middle East news was just a catalyst for what was going to happen anyway. There are real sellers out there and they were just looking for reasons. As for today I will be a seller as long as we stay below the daily pivot of 1321.25. I will be selling rallies looking for us to trade support at 1312.25. Failure to hold 1312.25 should bring in sellers and take us down to 1303.25 where I will be a small buyer. I will not turn bullish today unless we can sustain trade above 1321.25. The only data I am watching today is Existing Home Sales which has a consensus of 5.250 M. I don’t think this will be much of a market mover. Also I will be listening for any news coming out of the Middle East.
S&P Cash Top of Value 132650
E-Mini Daily E-Mini Weekly Weekly Bottom of Value 131050 • 134850 • 138450 • 136000 • 133950 • 136975 • 135105 Point of Control 132725 • 133025 • 133900 • 134282 High Volume Bar 131400 • 132125 Pivot • 130825 Pivot • 133459 Pivot • 131225 • 127750 • 132637 Prior Day’s 131450 Settlement • 130325 • 124675 • 131814 Average Trading 1200 • 129450 • 121600 • 130991 Range
10 Day Moving Average 132742 Prior Day High 133450
20 Day Moving Average 131471 Prior Day Low 131025 50 Day Moving Average 128574 Weekly High 134250 200 Day Moving Average 115916 Weekly Low 131025