hungry_hippo

ES1 - Double, double coil and trouble

CME_MINI:ES1!   S&P 500 E-mini Futures
Futures coiling, can't remember the last time that futures just sat in place.

Looks like the ASians turned off their algos, all up to the EUros to decide the morning gap.

No indications on which way the market goes here, but I drew up the targets.
Oct 17
Comment: Watch this head back to 2985 and sit there tomorrow. That would be pretty funny if the market decided to just flatline and piss everyone off. (Won't happen though, market needs to whipsaw to make money.)
~14 hrs to the dump. lol
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Might have another spike to 3010 to piss everyone off :) and head down to 2985 before close for option exp.
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some other indicators are funny... and this may mean different funny things (which are not having enough support to be said yet)
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IBM numbers were bad... the fundamentals in the macro are not too great... i would say that 300 is "it".
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I'm waiting to see 3010 looks like another 3-drive to TL.
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I agree, it is very very strange to have 2 day long flat. Do you accept the possibility that we might stop at 3006-3008 and retrace down to 2940?
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@maxaus, I dumped all my long positions and went short on a few stocks today. I don't trade indices, just plot them so I know which way the market is going. I think it's headed down Friday/Monday because of options expiration. Pretty much everything went up this month,lots of call options in the money that will get exercised.
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