robster970
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Did he say something worth 14.2k contracts at 15:46 GMT?
S&P 500 & other indexes - intraday. Plus chat
- Thread starter robster970
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Did he say something worth 14.2k contracts at 15:46 GMT?
wackypete2
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the usual hot air.
Peter
Peter
wackypete2
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gold and oil spiking up
robster970
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Does he sound like George Bush Jnr today?
Pat494
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robster970
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counter_violent
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Pat494
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If George Dubya was still in charge I would be piling in with longs.
Come back George. We miss ya !!
Pat494
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Dow Cash
Entry @ 12,480
Stop @ 12,520
Target @ 12,360
Reserve the right to intervene at will
Doesn't look too good
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counter_violent
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Hmmm
I was looking short myself until we got that push...
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DionysusToast
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So - we rolled over, so now all of my numbers have to change somewhat.
DTN.IQ do an adjustment to their continuous contracts, so you have to re-download the continuous data.
So - here is the balance area I've been harping on about, re-adjusted with that data.
So - now Value is between 1288.25 & 1322.25. So, we look rejection of 'unfair' prices outside of that range. Or we look to join a move from one end of the range to the other.
Of course, everyone that knows FT71 will probably recognize this sort of analysis. I hadn't been to his site for ages but I was talking to someone about it this weekend & there's a bunch of new stuff on there now which is quite interesting. Of you subscribe, then you'll see there's a "Hard Right Edge" video that will interest anyone that is contemplating this style...
There's also some good free videos on this site here: Stock Market Trading Training Seminars | Learn2StockTrade.co.uk
DTN.IQ do an adjustment to their continuous contracts, so you have to re-download the continuous data.
So - here is the balance area I've been harping on about, re-adjusted with that data.
So - now Value is between 1288.25 & 1322.25. So, we look rejection of 'unfair' prices outside of that range. Or we look to join a move from one end of the range to the other.
Of course, everyone that knows FT71 will probably recognize this sort of analysis. I hadn't been to his site for ages but I was talking to someone about it this weekend & there's a bunch of new stuff on there now which is quite interesting. Of you subscribe, then you'll see there's a "Hard Right Edge" video that will interest anyone that is contemplating this style...
There's also some good free videos on this site here: Stock Market Trading Training Seminars | Learn2StockTrade.co.uk
Pat494
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Updates with Euro zone agreeing to lend Spain up to 100 billion euros)
NEW YORK (Frankfurt: A0DKRK - news) , June 10 (Reuters) - U.S. stocks will get a lift on Monday after euro zone finance ministers agreed to lend Spain up to 100 billion euros ($125 billion) to help its battered banks.
The surprisingly large amount of aid removes a huge cloud that has been hanging over financial markets, with investors fearing that a banking crisis in euro zone's fourth-largest economy could have compounded the currency bloc's troubles with Greece.
Though the exact amount to be lent will be decided in just over a week, striking a deal now means Spain has added support in case Greece's June 17 elections throw financial markets into a tailspin.
"This is a major step in avoiding a contagion," said Tim Speiss, partner-in-charge of EisnerAmper's Personal Wealth Advisors Group in New York.
"The amount is pretty high, higher-than-expected. Although we need to get more details, at least for equity markets in the U.S. and around the world, this definitely eases short-term fears," Speiss said.
U.S. stocks are coming off their best week of 2012, in large part due to expectations that something would be done for Spain's banks.
After a 2-1/2-hour conference call of the 17 finance ministers, which several sources described as heated, the Eurogroup and Madrid said the amount of the bailout would be sufficiently large to banish any doubts.
For Wall Street, anything that diminishes fears over Europe (Chicago Options: ^REURUSD - news) is welcome news. The broad S&P 500 (SNP: ^GSPC - news) index fell 6.3 percent in May, its largest percentage drop since September, as the euro zone debt crisis worsened in the wake of Greek elections that produced a hung parliament.
In the first Greek poll, a large number of voters voted for parties opposed to the country's international bailout. The re-run of Greek elections on June 17 could decide whether the country stays in the euro zone.
"It's good that the news of the aid come ahead of the Greek elections. There has already been a lot of volatility in the market associated with it (the elections), so it's a good way to calm the sentiment until we get the elections out of the way," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
In other parts of the world, news was not as good.
Data showed China's inflation dipped to a two-year low in May while economic activity remained weak. This reinforced expectations that further policy easing could be in the pipeline to head off a sharper slowdown in the world's second-largest economy.
However, the data released by the National Bureau of Statistics on Saturday was not as grim as the market had feared after China's surprising interest rate cut this week - the first since the depths of the 2008/09 global crisis.
But the numbers still suggested economic activity remains sluggish in China. There were also concerns that while the economy may stabilize with stimulus measures, growth could slow down further.
.
On June 1, the S&P 500 index ended below its 200-day moving average for the first time this year, but it clawed its way back above the key level and rallied later in the week on hopes that Europe would find solutions to its problems. For the week on Friday, the Dow (NYSE: DPD - news) advanced 3.6 percent, the S&P 500 rose 3.7 percent and the Nasdaq (Nasdaq: ^NDX - news) jumped about 4 percent - their best weekly percentage gains since December.
NEW YORK (Frankfurt: A0DKRK - news) , June 10 (Reuters) - U.S. stocks will get a lift on Monday after euro zone finance ministers agreed to lend Spain up to 100 billion euros ($125 billion) to help its battered banks.
The surprisingly large amount of aid removes a huge cloud that has been hanging over financial markets, with investors fearing that a banking crisis in euro zone's fourth-largest economy could have compounded the currency bloc's troubles with Greece.
Though the exact amount to be lent will be decided in just over a week, striking a deal now means Spain has added support in case Greece's June 17 elections throw financial markets into a tailspin.
"This is a major step in avoiding a contagion," said Tim Speiss, partner-in-charge of EisnerAmper's Personal Wealth Advisors Group in New York.
"The amount is pretty high, higher-than-expected. Although we need to get more details, at least for equity markets in the U.S. and around the world, this definitely eases short-term fears," Speiss said.
U.S. stocks are coming off their best week of 2012, in large part due to expectations that something would be done for Spain's banks.
After a 2-1/2-hour conference call of the 17 finance ministers, which several sources described as heated, the Eurogroup and Madrid said the amount of the bailout would be sufficiently large to banish any doubts.
For Wall Street, anything that diminishes fears over Europe (Chicago Options: ^REURUSD - news) is welcome news. The broad S&P 500 (SNP: ^GSPC - news) index fell 6.3 percent in May, its largest percentage drop since September, as the euro zone debt crisis worsened in the wake of Greek elections that produced a hung parliament.
In the first Greek poll, a large number of voters voted for parties opposed to the country's international bailout. The re-run of Greek elections on June 17 could decide whether the country stays in the euro zone.
"It's good that the news of the aid come ahead of the Greek elections. There has already been a lot of volatility in the market associated with it (the elections), so it's a good way to calm the sentiment until we get the elections out of the way," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
In other parts of the world, news was not as good.
Data showed China's inflation dipped to a two-year low in May while economic activity remained weak. This reinforced expectations that further policy easing could be in the pipeline to head off a sharper slowdown in the world's second-largest economy.
However, the data released by the National Bureau of Statistics on Saturday was not as grim as the market had feared after China's surprising interest rate cut this week - the first since the depths of the 2008/09 global crisis.
But the numbers still suggested economic activity remains sluggish in China. There were also concerns that while the economy may stabilize with stimulus measures, growth could slow down further.
.
On June 1, the S&P 500 index ended below its 200-day moving average for the first time this year, but it clawed its way back above the key level and rallied later in the week on hopes that Europe would find solutions to its problems. For the week on Friday, the Dow (NYSE: DPD - news) advanced 3.6 percent, the S&P 500 rose 3.7 percent and the Nasdaq (Nasdaq: ^NDX - news) jumped about 4 percent - their best weekly percentage gains since December.
Pat494
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12:50am JPY BSI Manufacturing Index -5.7 -2.4 -7.3
12:50am JPY M2 Money Stock y/y 2.1% 2.5% 2.6%
6:00am JPY Household Confidence 40.7 39.9 40.0
7:00am JPY Prelim Machine Tool Orders y/y -2.9% 0.4%
7:45am EUR French Industrial Production m/m 1.5% 0.1% -1.0%
8:58am CNY New Loans 793B 700B 682B
8:58am CNY M2 Money Supply y/y 13.2% 12.9% 12.8%
5:00pm USD FOMC Member Lockhart Speaks
11:00pm NZD REINZ HPI m/m -0.3%
11:00pm USD FOMC Member Pianalto Speaks
12:50am JPY M2 Money Stock y/y 2.1% 2.5% 2.6%
6:00am JPY Household Confidence 40.7 39.9 40.0
7:00am JPY Prelim Machine Tool Orders y/y -2.9% 0.4%
7:45am EUR French Industrial Production m/m 1.5% 0.1% -1.0%
8:58am CNY New Loans 793B 700B 682B
8:58am CNY M2 Money Supply y/y 13.2% 12.9% 12.8%
5:00pm USD FOMC Member Lockhart Speaks
11:00pm NZD REINZ HPI m/m -0.3%
11:00pm USD FOMC Member Pianalto Speaks
DionysusToast
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So here's my pre-market analysis - it's 6:13am EST right now...
Europe, Asia all well up.
Nice gap up to start the week, we are above the value area we've been in for a while. Volume overnight is about 28k above average at this point, so nothing to write home about.
My opinion here is that we will be a lot more likely to find sellers than buyers at these prices and of course, it's easy to say that because we've come off 10 points since the open.
1349 would be a good place to short if we make it there but I would guess a test of the ONH is more likely. If it doesn't move up to a more attractive place to sell, then sell bounces to LVNS on the way down.
In terms of potential longs, it depends on the volume IMO. If we move up on strong volume and pull back to 1341 or 1337, I'd consider a long.
There is also a major LVN at 1320 that sees us filling the gap and the moving on up. Hard to really see us dropping that low if this is the start of a move up and it does not fit in with the method but I can't help but think it's an ideal place for buyers to step in.
It will be an interesting day, it's entirely possible we'll just rotate around this 1331-1341 area and balance as the market 'takes on' these new prices.
So there's my 4 hypotheses for the day.
Bottom line though - we are way above value here, so unless a lot of new buyers come in, I don't see how we stay up here.
Summary, options are:
Buy 1320
Buy Pullbacks to 1341, 1337 after aggressive move up
Sell 1349, Overnight high
Europe, Asia all well up.
Nice gap up to start the week, we are above the value area we've been in for a while. Volume overnight is about 28k above average at this point, so nothing to write home about.
My opinion here is that we will be a lot more likely to find sellers than buyers at these prices and of course, it's easy to say that because we've come off 10 points since the open.
1349 would be a good place to short if we make it there but I would guess a test of the ONH is more likely. If it doesn't move up to a more attractive place to sell, then sell bounces to LVNS on the way down.
In terms of potential longs, it depends on the volume IMO. If we move up on strong volume and pull back to 1341 or 1337, I'd consider a long.
There is also a major LVN at 1320 that sees us filling the gap and the moving on up. Hard to really see us dropping that low if this is the start of a move up and it does not fit in with the method but I can't help but think it's an ideal place for buyers to step in.
It will be an interesting day, it's entirely possible we'll just rotate around this 1331-1341 area and balance as the market 'takes on' these new prices.
So there's my 4 hypotheses for the day.
Bottom line though - we are way above value here, so unless a lot of new buyers come in, I don't see how we stay up here.
Summary, options are:
Buy 1320
Buy Pullbacks to 1341, 1337 after aggressive move up
Sell 1349, Overnight high
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