Sucker's rally here

Futures/Extended Trading(Roll over for charts)
Last Chg Settle
DJ Industrials 13314 -29 13343
S&P 500 1472.20 -4.40 1476.60


180 reversal overnight. Yes, I didn't sleep tonight...
 
Quote from makloda:

180 ES points??? Oh wait.. 180 degrees.. from +4 points to -4 points. Terrible reversal!
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Sorry, meant degrees.

Damn it, ECB didn't raise. Japan should be raising later this month.
 
Quote from pumpanddumper:
Sorry, meant degrees.

Damn it, ECB didn't raise. Japan should be raising later this month.
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Hey I thought it was the bulls that were desperate for central bank action! :)

BOJ will probably be on hold for some more time, a hike would be a huge (negative for the markets and positive for JPY) surprise.
 
Quote from makloda:

Hey I thought it was the bulls that were desperate for central bank action! :)

BOJ will probably be on hold for some more time, a hike would be a huge (negative for the markets and positive for JPY) surprise.
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Yeah, both ECB and Japan were gonna hike in August but that would have just pushed everything lower. Then the FED stepped in on the US and we know the story....

I think they both hike after the .25 cut here in US(which is baked in) in Oct.
 
Quote from Toro KMA:

I disagree that Bernanke panicked. He was looking at the money and inter-bank markets, where there were true problems.

Having said that, I expect this bounce to fail and we'll re-test - and probably fail at - the lows.
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So what, I hope everyone closed their positions and took in their profits. now this was very easy but the best thing to do now is observe and see how the markets digest this over the next few days.
 
Sold one of my longs today, waiting for a drop below 13500 to get back in with some new longs, until then this market is just to crazy.
 
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