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Intraday Market Commentary From Stifel Nicolaus - August 19
Market Comment from Elliot Spar
Who’s putting out those estimates for the Philly Fed Survey? Obviously not an exact science but I demand a Congressional Investigation. While they are at it, how about a look into the crush in the Spoos and NDX futures after 4 pm yesterday (on no news) for 6 and 14 points respectively. That’s all I have to say about that. The market unraveled on the worse than expected Philly Fed Survey with a couple of support levels being taken out. Around noon, the S&P found support at 1070 but with the NYSE a/d off worse than 5 to 1 negative, I don’t expect a bounce to carry that far. If the market continues its slide tomorrow, I expect the S&P 500 to make a stand in the 1055-1060 area.
CBOE Volatility Index
VIX 26.41 (+ 1.82)
In yesterday’s trade, the down side gap from 8/17 was filled and the VIX held its 200 day moving average. If the market continues in the ugly mode this afternoon, 28.10, the August 16th peak may be challenged.
PUT/CALL ALERT
Late morning reading on the ISE Sentiment Index put/call equivalent at 1.61. One would expect an extreme reading like this with the S&P off more than 20 points. If we get another bullish reading in the a.m. tomorrow, we may be close to a short-term bottom. However, we never hang our hat on just one indicator.
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An investigation?!?! Are you fucking nuts? Roger Clemens is WAYYYY more important.
Nothing to investigate .....
It was the "usual" spread close.
The convergence boxes are getting slacker & slacker ;>)
http://www.zerohedge.com/article/its-3-pm-daily-free-money-arb-here
looks alot farther than 6 feet down
Someone sold a lot SPX calls AND PUTs at 1100, and obviously got a big one in the behind. YES, Investigation!
And he said it all without using the word "unemployment!"
Making that late afternoon push for green.
ramping up now in anticipation of a no-macro-news release day tomorrow
too much excitement this week.. boring op ex tomorrow i expect.
It's 3:00pm. Do you know where your PPT is?
There are certainly a lot of details like that to take into consideration.I read and understand the entire article and I really enjoyed it to be honest.
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