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Flat open, so any gap would be filled. Usually the day after a wide range day (last Friday) tends to be a small range day, so might be pretty boring day today.
For Global ES, the overnight rebound so far looks like a bear flag, not sure the flag is finished or not though, need wait and see.
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Here is a graph of the hour from 7:30-8:30CT (which I call the Pre session)
The first is for a longer period and the second closer in.
It looks to me that the bulls must defend the 1422 area.
NTA (=not trading advice)
Gauging Investor Sentiment with Twitter:
"The Twitter Support and Resistance range tightened substantially last week (with the exception of a few very low outliers). Traders aren't looking up any longer. We haven't had any tweets above SPX 1475 since the 11th of this month. Almost all of the tweets are mentioning support just below the market in the 1420 to 1430 range. This signals how crucial it is for SPX to hold the 1420 level. We did have a few isolated calls for the 2009 lows, but for now we consider them to be outliers. This leaves support on SPX at 1430, 1420, and 1400 with resistance at 1475 and 1500."
I mentioned Friday the coal sector was looking short-able (is that a real term?) but I wouldn't trust anything until BTU earnings today. Well don't look now but BTU actually RAISED guidance. Guess coal is no longer the biggest POS sector out there.
The company said it expects full-year adjusted profit of $2.10 to $2.30 per share. Analysts on average were expecting earnings of $1.78 per share, according to Thomson Reuters I/B/E/S.
Peabody also raised the lower-end of its full-year sales forecast by 10 million tons. Total sales for 2012 are expected to be between 240 and 250 million tons.
The company said Australian shipments had reached a record 8.5 million tons in the third quarter. It is now targeting Australian sales of 31 million to 33 million tons in 2012, compared with 2011 sales of 25 million tons.
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The mkt has a lot of contrarian indicators out there..I still think the mkt will make one more run up to a lower hi and move in a sideways area until elections..Then maybe dn..We still have 1420 support and up to now has held..All bets are off if it breaks then dn to 1395 support.So we wait and see,
double bottom text book target if indeed breakout.
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Thank you ClarkW! Re: NUGT/DUST. Bought 1k shares NUGT last Monday. Sold it Wednesday and bought 1k shares DUST same day. Sold that Thursday. Bought NUGT back Friday. Looking to sell that today. Best week I've ever had swinging!!!