NYSE updates - MARKET STATUS
Futures:
The ES currently frozen @ 1400, -7pts.
So, we're currently set to open @ 1405, although I expect a further drop in overnight futures.
Oil, and the broader commodities are all considerably lower, and this indicates further falls in the indexes are very likely.
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Something to consider..'if' we can open for Wednesday
Sp'monthly, rainbow
Summary
If we do open Wednesday, if only for a few hours, it will be a very important morning.
Bears should be seeking at least a test of the monthly 10MA, currently @ sp'1379. However, that is a pretty steep 33pts lower.
It IS viable for a gap down of that size, although we could instead open down 20/25, and melt lower into the closing hour around 1pm (if we're even open!)
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*we have key econ-data, the Chicago PMI - due Wednesday morning, I still expect that to be released.
However, the Friday jobs data now looks likely to be delayed into next week...probably AFTER the US election.
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More later today, especially if the Futures can more decisively take a cliff dive overnight.
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UPDATE 3.50pm - Futures will open up at 7pm EST...as normal
UPDATE 6.14pm (EST) - Futures, ES -5 @ 1397.
Certainly nothing dramatic so far. I'll only get a little excited if we can trade into the low 1380s by the morning.
UPDATE 9.47pm: (unsubstanciated rumour) via CNN, US NYSE trading room floor.. water level: 3ft.
This is pretty bad, and I can't imagine the bigger implications. The chances of opening this week just dropped significantly. Urgh.
UPDATE 10.19pm - seems the CNN report was entirely wrong. NYSE is still dry..the bull has not drowned. Futures are still weak though, ES is 1397*
*bears need to see ES 1391/90 to see a clear break of the low from September'1st.
