Wednesday, October 21, 2009

Late Break

The e-minis dropped more than 20 points during the last hour of trading. The market dropped a couple of points past support defined by the last top at 1075.75. However, I think we are not far from the low of this reaction. My best guess is that it will develop near 1066 sometime tomorrow.
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4 comments:

  1. MaverickUK10/21/2009 04:24:00 PM

    Carl. How do you know that the top is not in? The S&P futures have not yet traded 1100 which is suspect is it not?

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  2. Narayana10/21/2009 04:30:00 PM

    So this isn't a supply shock??

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  3. dreadwinaard10/21/2009 04:59:00 PM

    On the drop in early October, IYR (real estate) found support at the 50 day moving average. I'm looking for a similar bounce tomorrow.

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  4. passer_by10/22/2009 04:56:00 AM

    tomorrow will be VERY bloody day

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