Does anyone else think the market is set up for a big gain tomorrow?

Algo_Design_Kid · Sep 16, 2010

http://finviz.com/futures_charts.ashx?t=ES

It just seems like it has been building to one huge move.

The gains IMO could be pretty significant if it doesn't sell off in the late afternoon.

bat1 · Sep 16, 2010

Well, it's at the point of a big move up or
back down we go!

shortie · Sep 17, 2010

or will stay flat in the narrowing range: 1pct, 0.5pct, 0.1pct...

Redneck · Sep 17, 2010

This is not an indication of my bias â I donât have one

Merely an observation â imo every short and their brother is getting squeezed out â when the market falls next â itâll fall hard

No shorts left to cover and slow it down

But I also think its posturing for the upcoming election

Ride the wave â no matter which way it rollsâ¦

RN

MKTrader · Sep 17, 2010

Quote from Algo_Design_Kid:

http://finviz.com/futures_charts.ashx?t=ES

It just seems like it has been building to one huge move.

The gains IMO could be pretty significant if it doesn't sell off in the late afternoon.

Nice O/N selloff in EURUSD and stock futures. Let's see what happens. The Nasdaq has been extremely overbought recently, so the earnings news could easily be priced in already.

Algo_Design_Kid · Sep 17, 2010

Quote from MKTrader:

Nice O/N selloff in EURUSD and stock futures. Let's see what happens. The Nasdaq has been extremely overbought recently, so the earnings news could easily be priced in already.

Yeah, I agree. I think it is going to be a volatile day though with the path of least resistance being up.

Impossible to say for sure, but I think there is 1 or 2 big moves in store to the upside before some sort of retracement.

MKTrader · Sep 17, 2010

Quote from Algo_Design_Kid:

Yeah, I agree. I think it is going to be a volatile day though with the path of least resistance being up.

Impossible to say for sure, but I think there is 1 or 2 big moves in store to the upside before some sort of retracement.

Don't forget, it's also quad witching. Go shorts!

Petsamo · Sep 17, 2010

Kudos to our European buddies!

Algo_Design_Kid · Sep 17, 2010

Quote from MKTrader:

Don't forget, it's also quad witching. Go shorts!

Good point - could be interesting

trefoil · Sep 17, 2010

IMO big upday in store, but as with any day, anything can happen.

Just saw this go by. Looks a bit premature to be talking about this, but FWIW:

(flyonthewall)

The Nasdaq 100 has become the first heavily followed index to break out of its four-month-long trading range. This could see momentum return to the index, and could lead to further upside as traders chase it. Next resistance target is at the May 6th flash crash high of 1964.10. Support is at 1939.77.

If you owned STU, you already had a nice day. Maybe even a nice year just now.