Actionable ideas for the busy trader delivered daily right up front
- Friday way lower.
- ES pivot 2100.67. Holding below is bearish.
- Next week bias lower technically.
- Monthly outlook: bias lower.
- YM futures trader: no trade tonight.
Market index futures: Tonight, all three futures are lower at 1:41 AM EDT with ES down a mind-boggling 4.90%. I had to stare at that number for a while to be sure I was reading it right. At first I thought it was 1.90% (which would be bad enough). When I saw 4.90%, I was stunned. And the only reason they weren't lower is because they hit the 5% trading circuit breaker. Holy moly. And the volume's been crazy all night long. At 2 AM, there's usually only a smattering of cintracts crossing the tape. Right now it's in the thousands. Amazing.
Euro: The euro is off almost as much as ES right now, but has now crashed through its 200 day MA - never a good sign.
Month right wrong no call conditional batting Dow
January 9 5 5 0 0.643 1433
February 9 3 5 3 0.800 1133
March 8 6 6 1 0.600 222
April 6 4 8 2 0.667 416
May 9 3 4 4 0.813 756
June 4 5 6 1 0.500 -37
And the winner is...
Well my job is real simple tonight: Friday lower. Lots lower. It will be very interesting to see how this plays out. Me, I'm going to hit "Publish" and then I'm heading for my fallout shelter. That's all she wrote, hooh boy. See you all again Sunday night, if the stock market is still around then.
YM Futures Trader
No trade tonight.