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Flat open, any gap will be filled.
Key time for Global ES here as it tested the previous high and pullback, break the blue line below then it'd be a Double Top, so you don't want to see bulls fail here.
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My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
Nasdaq: I think we will see little weakness then back up before correction will take place
(morning chart)
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
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SigmaEcho wrote:M Cobra, how about DAX. Broke previous high (early nov) and pulled back.
DAX has been testing the previous high many times, so a breakout is likely. I think a consolidation or pullback here is need before the breakout otherwise the breakout might be not real because it travels too long to test the resistance, like a flying arrow near its max range.
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SigmaEcho wrote:M Cobra, how about DAX. Broke previous high (early nov) and pulled back.
DAX has been testing the previous high many times, so a breakout is likely. I think a consolidation or pullback here is need before the breakout otherwise the breakout might be not real because it travels too long to test the resistance, like a flying arrow near its max range.
FWIW: Mike Bergen @BergenCapital
Buyers of DAX downside stepping in - large buyer of the DAX Mar13 6400 Put in 15k listed (500m notional). Low delta - little futures impact
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nothing to say, wait for the range breakout first.
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I'm long 5 ES contracts at 1415.45 (Avg price). This is not a recommendation for anyone. I may have jumped the gun as Cobra posted wait for the range to settle.
It looks like the mkt could chew around here in a small range for the next 3-5 trading days..The charts are trying to change but this may take a few days chop..Look at the algo it is topping and liquidy is holding in the higher quad.We may see some good bearish moves the 2nd week of Dec..Just imho..Lets wait and see. Charts by stocktiming
SigmaEcho wrote:M Cobra, how about DAX. Broke previous high (early nov) and pulled back.
DAX has been testing the previous high many times, so a breakout is likely. I think a consolidation or pullback here is need before the breakout otherwise the breakout might be not real because it travels too long to test the resistance, like a flying arrow near its max range.
FWIW: Mike Bergen @BergenCapital
Buyers of DAX downside stepping in - large buyer of the DAX Mar13 6400 Put in 15k listed (500m notional). Low delta - little futures impact
Well, applying put-buying as protection is quite bullish. I'm bullish on DAX, my only short term concern is the daily stochastics which is at a high. Suggests there will not be a breakthrough in the next few days.