sp'60min'1c
Summary
*the above is just one of the scenarios I will be keeping in mind early next week. It is a favourite though, since a re-short on a RS bounce would make for a rather easy trade setup.
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So...it has been an interesting week, today won't likely be boring!
If we can hold the 50 day MA - currently sp'1828, and bounce early next week, then I'll consider shorting any bounce into next Wednesday. Until then, I want to give the bulls another chance to push back higher.
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Morning doom report from Hunter
I will agree with Hunter that is it odd to see Obama do spoof interviews, whilst the Russians are massing troops.
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Good wishes for Friday trading!
8.29am... futures starting to slip.... sp -4pts.... 1842
9.00am... sp -2pts... 1844..... the recent action is in metals... Gold +$9, Silver 2.6%
9.12am.. so...lets see if we fall sp -12pts ...to 1834...and then hold by 11am or so.
A weekly close <1863..will be the first warning of trouble...and bears look likely to achieve that today.
9.42am.. black-fail candle on the VIX.... equity bears..have a problem right now.