Monday 29 October 2012

US Markets Closed Tuesday

The US markets will remain CLOSED Tuesday, and 'might' open for limited hours on Wednesday.



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.

Something to consider..'if' we can open for Wednesday

Sp'monthly, rainbow


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!)

*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.

More later today, especially if the Futures can more decisively take a cliff dive overnight.

UPDATE 3.50pm - Futures will open up at 7pm 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.

US Markets closed Monday (and probably further)

Late Sunday update - US Markets will be closed Monday due to the east coast storm Sandy. It seems highly probable the market will also be closed on Tuesday, and only slightly less so on Wednesday.

Official 'Market Status' NYSE

Zerohedge - UPDATE

sp'daily3 - news/events

So....we are shut Monday, and I'm guessing its a near guarentee...Tuesday also.

If Sandy is a major 'water problem' - not least for the NYC subway network, then we could be looking at everything shut ALL WEEK. Its notable that the NYSE was shut for just four days after the 9/11 event.

We have some big econ-data later this week, not least the big jobs data, but could see some of this delayed into the following week?

A serious question to end the Sandy a black swan, or just over-hyped media hysteria?

What IS clear, is that there won't be any flashing green/red boxes on my screen this Monday.

Goodnight from London