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Where Will S&P Futures Re-Open?
It seems the bond market was onto something today in its lack of exuberance. Following the after-hours FrAAnce downgrade, which very conveniently happened 2 minutes after the ES quiet period started, EURUSD has tumbled giving the day-session's gains back and retraced back to where Treasuries ended the day. This would infer S&P futures open down notably - around 1370-75 (note 1377 was closing VWAP and may be support).
Chart: Bloomberg
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i went short at the 200MA earlier.. then i watched Apple move up 2% more and drag SPX straight through. This annoyed me at the time.
Karma Bitchezz
"Where will it open tomorrow?" Well, in a non-manipulated non-central planning market, the ES futures would have been -20.00 shortly after the announcement. As I type this, however, it is only -2.00...or -8 fucking TICKS.
Do not be surprised to see it open higher tomorrow - yes, higher because in this shit-show of a marketplace, only a gap-up open would make sense.
It'll open down.
They want a rally into Black Friday-nothing will deter them.
Agree - and that was the first thing I thought when I watched the big spike this morning. A France downgrade is horrendous but they will pull it off somehow. Look at most every lightly traded holiday week for years now. If people feel shitty they don't spend.
So Friday is the day you figure this whole mess falls apart? I hope I am there with my finger on the trigger when it comes... I thought it was going to be last Monday so I've already been wrong once.
I have no clue when it all falls apart but short term I think they'll pump it.
finviz.com's futures service has S&P down a mere 1.50 points (7:38 PM ET), nothing really. We will see.
dupe comment
aaannnnd, it's gone!
ES just went green.
fuck it all.
es 1500+, Timmy's a buyer.
Sell the rumor buy the news.
The downgrade should have been 18 months ago
Its just another Manic Market....Or was it Monday?
I know that its up tomorrow and every groundhog day after....I know because my neighbor said there will be a turkey in every pot.....and he is a stock broker!!
Time to fire up the document shredders at Moody's paris office stat.
Imply, not infer.
Thanks for keeping the standards high
nearly kissed the 38.2 % fib line and now heading south. i'm short /es
Seems to have re-opened down a gigantic 1 point. Boy, that must have the longs shitting bricks...
+1 Man, I am really sweating it out right now. Down a whole 1 point. The world is ending.
***** UPDATE ***** down 1.80 points now.... I understand from 'sources close to the matter' that stops are going off
This should expain it, I think...
http://www.theonion.com/articles/something-about-tax-cuts-or-earnings-or-money-or-s,18169/
I don't know man... It seems like the bulls have tasted blood and are anxious to get this trainwreck moving again.
The annoying voice in my head tells me the Bernank will start ramping right into the open to get through the Blackest of Fridays. Voice says short at your own risk.
Clear as day that the risk on is still short here. The micro trades are irrelevant. 133, then 120 then, potentially 100. Today = adding day.
Its gotta go up so it can be shorted down...squeeze a few more into the close...there ya go.
Looking at the entire EU situation, France is a blip on the radar. In a non-centrally planned socialist world where reality has a chance of suvival, Europe should be no higher than superlative junk.
Bullish! Market will continue to "float" up on declining volume all week.
Turkey day rally, then we have the Santa Clause rally. S&P will be in the 1460 area again by X-mas... easy.
Tyler HELP! The E/S is crashing down a full point after the deaded France downgrade! What are we to do????
I bought the BAC Dec. puts @ the money on the late day ramp. Looking for a dime, we shall see.
Fully baked.
I believe the technical analysis, whiich is saying the market is going far down here shortly. Senseless 150+ point upside tells me people should be taking profit tomorrow. This market may be some sort of semi-quantum-schrodinger cat, which bounces before it falls.
one more run to the top
Like ratings even matter...