Friday: Bang! Zoom! To the moon Alice.

D

dgabriel

Okay, maybe not. But VIX behavior, P/C ratio, oversold readings in % of stocks above 10,30,40 DMAs support the likelihood of a rally soon.
 
Can't see much upside Friday as long as Rita lurks in the Gulf

Uncertainty will hold prices down - sell any rallies.

Once the full effects of Rita are known, then there could be some upside potential.
 
Rita last satellite imagery loop shows turn to the west --- not good for Houston --- not good for the economy. Oil market tomorrow should be watched very closely as any big moves there will have the markets attention.


now remember, the more news related trading affecting the market means the less that technicals are in play --- be vigilant!
 
No. Don't think so.

Rita is a one time event. Or, the left hook after the right cross in this case.

But Hurricane season will be over in 2 weeks.

Impact is temporary, and disruption is localized, minimal in regard to the overall economy.

Oil supplies can handle gulf shutdowns and despite the hike in gas prices after Katrina - that wretched cunt - there has been no meaningful supply disruptions in gasoline.
 
Quote from dgabriel:

Okay, maybe not. But VIX behavior, P/C ratio, oversold readings in % of stocks above 10,30,40 DMAs support the likelihood of a rally soon.
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I'm not a bull, but I see a good chance of ES hitting at least 1225.5 tomorrow. There's a gap there.
 
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