Kudos to MMs

Nearby resistance and more profit targets are obvious: 741, 766, 782, 800.

Support is also obvious: 682, 666, maybe 700.
 
Nothing much going on and not much to add to above post.

"FV" has come down some and I estimate it at 825. Convergence is definetly happening.
 
Not much to report. Read the posts on this page and that is the news.

The one thing that maybe you should keep in mind is the roll. Options expiration next week will also be interesting. They obliterated vola yesterday.
 
"FV" is approximately 750, maybe a touch below.

Nasdaq futures relatively to SP futures weaker pre-market is a small worry. Otherwise the S/R levels on the previous page are still the near term targets.
 
I see confusing signals here, not just NQ. "FV" may be coming down harder than I at first thought. "FV" could be only 820. Stay tuned I am not certain...
 
NQ being dragged by the hair higher, kicking and screaming, by ES.

This is a real show of strength. But I do see kinks in the armor.
 
"FV" has inched higher, estimated at 835.

We have seen how extreme SIFs can get from "FV", and yet this area once again feels like a value area.

Options expiration likely to keep trading in a range for a week, albeit the range may be pretty wide. Still, a break of 800 SPX imo will require "FV" to go really negative again, or a total surprise from data.

I couldn't sleep last night, so I stayed up and watched Bloomberg. Jim Rogers was being interviewed about the usual: oil, currencies, real estate, etc. I once called this man an idiot for saying that C was going to $5. In retrospect, it is clear who the idiot is. While I disagreed [once again] with much of what he said, I totally agree that the price of oil has to go much higher. Granted, it may not be for years, but anyone who has a long term horizon, say 10+ years on investments, should be lifting hand over fist companies like COP, SLB, XOM, etc. If you are a trader, you know how to trade contango vs backwardation, and how to change from oil futures to the equities oil sector, but for the investor with that kind of time frame, it is best to choose some simple investment plan, imo.

I know lots of people who payed for their houses and sent their kids to school on WAG. Oil stocks are the future WAG, imo.
 
"FV" continues to inch higher. Estimated at 850. Otherwise, the FED happenings today and tomorrow will probably only add to the volatility of options expiration week.

Large note auctions still in the queue for this week could affect markets either way, so best to pay attention to them.
 
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