You have been offered a GIFT!

I wouldn't say its a huge gift.

But false breakouts are good plays. No buying came in after we broke back below 1076.

This is probably good till 1050-1055. Then its hard to say with earnings coming out.
 
Earnings and US Dollar watch in play. If US Dollar makes new lows then we can get a decent rally going in the ES again (that I will be willing to sell into for a longer term trade as I see commercial side sell response in futures).....we will see.
 
Quote from AMT4SWA:

ES is stuck near the highs as everyone fixates on the US Dollar (no new lows yet....btw). Also, equities side participation is indifferent to this point today and only one partial buy program so far.....so here we sit with futures in a tight range today.
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Don't necessarily agree with your GIFT, but your analysis is spot-on regarding today's action. The goals seems to have been to take it up during the London (overnight) session and then consolidate during the US session.
 
BTW American Tower is a piece of shit company, its going down the drain someday. I suggest if you own it, dump it.

What a terrible stock!
 
Quote from AMT4SWA:

The S&P500 Emini has now traded to the 1076's for a new high at 1076.75 so far. We have had an excellent run in the US markets these past weeks on the US Dollar weakness play mixed with many strong runs in commodities.

The market as of today is offering to you a longer term play GIFT, a HUGE GIFT, and I hope you all know what to do with it! :eek:

:D :p :D
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care to elaborate more, charts etc?
 
Quote from AMT4SWA:

Here is another GIFT.......... http://www.youtube.com/watch?v=_tjYoKCBYag :cool:

LIFE = RISK!
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Thanks to Obama, et al, most Americans won't even bother with TRYING, let alone failing... That's Socialism for you... :mad:

"There are only two places where socialism will ever work; in Heaven, where it is not needed and in Hell, where it is already in practice." -- Winston Churchill
 
There is almost no "commercial" SHORT inventory being held at these pricing levels (so who are you going to drive into SHORT covering in futures with equities side BUY programs?) and the indexes have run past the US Dollar move to this point. We have a SHORT inventory vacuum in the ES here at current pricing levels....it will take newly initiated BUYERS to drive the market higher now. There is no big group of held SHORT inventory ABOVE current pricing levels to "run to" in any SHORT covering based rally at this time.....I like this set up.
 
Quote from Ivanovich:

In my humble opinion, atticus is probably one of the most astute and honest/open folks on this board.
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Atticus is full of hot air. You are better off taking trading advice from a turtle.

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