Thursday, May 14, 2009

Futures holding?


Just another quick update. Futures have been holding yesterdays low but more downside pressure exists here. We are about to breach the low here which would confirm a move towards 870-875 on S&P 500.

If we open at this range here for futures more sell off will occur to hit the 870 range and possibly touch the 868-869. If we can get ourselves above 885 on S&P500 at the open we should have a great chance to get to my upper ranges of 895+

13 comments:

  1. Futures recovering on bad news. More of the same =)

    S&P currently at 887.

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  2. samalamadingdongMay 14, 2009 at 9:48 AM

    chaugsy you focusing on going long or short today?

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  3. not sure yet. Waiting until 10:00 to make a decision what the game plan for the day is. At this point I would say focus is long - but not yet confirmed.

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  4. decision time now. 3 minutes before we know direction.

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  5. How's it looking so far? Do you think it'll at least test the 900's?

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  6. want to see a real retracement first before I make that call. At this point high probabilities for 895.

    I am long off the low of the day (9:54 entry).

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  7. thus far there has been 2 big blocks of selling - no big buying blocks. Being cautious on the long side. Thats why I want to see a real retracement first.

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  8. looking toppy here. RSI not confirming another push up, previous retracement not strong enough.

    50/50 now

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  9. also 5-min bars looking really bad for another push up.

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  10. fully loaded with shorts at 894

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  11. Waiting for one more jump. While we had our 3 pushes up here, this is not looking like it will sell off. First another few points of pushing.

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  12. samalamadingdongMay 14, 2009 at 1:58 PM

    how do you think we close chaugsy?

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