Small change on NYMO yesterday...

We could zoom to 1160s or drop to 1130s... It was a lower high in NYMO with a small change and it delivered the intense movement. It also closed negative and hence now NYSI is pointing down. Can we have another attack to the highs or gap down and go... We did not close below the critical 1131 level on SPX basis. So, I favor a bounce unless we gap down below it on Monday, this rally into the close was not welcome honestly... Have a great weekend...

Edited by arbman, 15 January 2010 - 04:48 PM.

We could zoom to 1160s or drop to 1130s... It was a lower high in NYMO with a small change and it delivered the intense movement. It also closed negative and hence now NYSI is pointing down. Can we have another attack to the highs or gap down and go... We did not close below the critical 1131 level on SPX basis. So, I favor a bounce unless we gap down below it on Monday, this rally into the close was not welcome honestly...

Have a great weekend...

i wasnt thrilled to see it either...like you said ALL the bears are bullish!!!

isn't it a holiday monday i remember back in 2008 when futures gapped down big time because of the rogue trader from societe general and then bernanke lowered rates i assume ES is open monday resistance now should be where the 200,000 contracts were traded i doubt 1131 is support now that we have traded there a couple of times es 1117-1121 is support

isn't it a holiday monday

i remember back in 2008 when futures gapped down big time because of the rogue trader from societe general and then bernanke lowered rates

i assume ES is open monday

resistance now should be where the 200,000 contracts were traded

i doubt 1131 is support now that we have traded there a couple of times

es 1117-1121 is support

yes me too.....thats why i was thinking the stock mkt is open monday?

We could zoom to 1160s or drop to 1130s... It was a lower high in NYMO with a small change and it delivered the intense movement. It also closed negative and hence now NYSI is pointing down. Can we have another attack to the highs or gap down and go... We did not close below the critical 1131 level on SPX basis. So, I favor a bounce unless we gap down below it on Monday, this rally into the close was not welcome honestly...

Have a great weekend...

Arbman, the way I read this is that the NYMO spent very little energy to deliver 16 points down in one session, we should get more down next week...my vote.

GS.