Tomorrow Black Friday?
- Thread starter UMU
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We're near the low of the trading range that has been in place since early this year. The range has had a slight downward bias, so IMO the most likely scenario is to make a new low by approx 10 points (which would take us down to about 1066), then rally back from there.
A moderately bearish payrolls would do the trick nicely - scare weak longs out, then serious buyers step in and that's the low for the move.
Anyway, I'll be bidding at and below 1070, then look to add if it starts to go my way. A move below 1060 would have me scaling out of my entry and waiting for the market to stabilise before re-entering.
A moderately bearish payrolls would do the trick nicely - scare weak longs out, then serious buyers step in and that's the low for the move.
Anyway, I'll be bidding at and below 1070, then look to add if it starts to go my way. A move below 1060 would have me scaling out of my entry and waiting for the market to stabilise before re-entering.
There was a 75% chance ( predicted by Fed Funds Futures ) for a 1/4 point increase in SEPTEMBER.
Suffice to say that Fed Funds futures have plummeted, now only forecasting a 12% chance of an increase in SEPTEMBER.
So much for Josh Bolten of the OMB and the Bush Administration's forecast of 4.7% GDP growth in the Second Half. Does anyone still want to continue to spend BILLIONS over in Iraq? We sure got some cheap oil now, don't we?
1050-1040 here we come in the week ahead.
This number was horrible!
Suffice to say that Fed Funds futures have plummeted, now only forecasting a 12% chance of an increase in SEPTEMBER.
So much for Josh Bolten of the OMB and the Bush Administration's forecast of 4.7% GDP growth in the Second Half. Does anyone still want to continue to spend BILLIONS over in Iraq? We sure got some cheap oil now, don't we?
1050-1040 here we come in the week ahead.
This number was horrible!
Sell S&P, buy NQ.
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