There's not much to update, thus far it's a pretty boring rangebound session.
We did get the insider selling vs buying ratio today, it came in at 1169 shares sold for every 1 share bought. ORCL was leading the pack on sales again.
The Euro has given up it's opening gap, there's a lot of news out on Greece this morning, not so favorable.
So when something happens, I'll let you know. For now you might as well just go back to bed.
5 years ago
7 comments:
Gap down on the vix points to investor complacency below 20. That is prob the biggest and most important thing to notice this morning.
And early US Dollar strength
We broke to the downside on the Euro wedge, now forming another in the 1 min time frame. Their is alot of profit sitting on the table that traders at some point won't want to risk. If they start to feel that the risk is starting to go against them, they might flee to the exits to be the first.
The 1 min also broke to the downside and now it is forming a rising wedge on the 1 min. Another bearish pattern...the market hasn't followed the dollar trade yet, but we may be seeing the start of some weakness. The big boys might just be sitting in the weeds allowing retail to buy some shares thinking everything is ok. The euro/usd trade seems to indicate all might not be. Let's see where it goes.
It seems that the market is able to go up when the EURO tries to bounce but does not give the same respect to any downside pressure. Obvious market manipulator of HFT's at work here. We should be trading well below Friday's close based on the dollar. Again, Obama was speaking today. We'll see if the market follow the normal course and goes up because he was on TV
Little reminder of the Fall session of 2008:
2008
Sep 15 Falls 504.48 to close at 10,917.51 on news of the collapse of Lehman Brothers and Merrill Lynch
Sep 17 Falls 684.81 to close at 8,920.70 on fears of AIG rescue failure
Sep 18 Rises 410.3 to close at 11,016.69 on news of world wide central banks injecting billions and billions into the credit markets
Sep 19 Rises 368.75 to close at 11,388.44 on news of government bail out plan
Sep 29 Falls 777.68 to close at 10,365.45, down 6.98%, largest point loss in history
Sep 30 Rises 485.21 to close at 10,850.66, up 4.68%
Oct 09 Falls 678.91 to close at 8,579.19, down 7.33%
The DJIA has fallen 5,585.34, or 39% in one year
Oct 13 Rises 936.42 to close at 9,389.61, up 11.08%, largest point gain in history, fourth largest % gain in history
Oct 15 Falls 733.08 to close at 8,577.91, down 7.87%, second largest point loss in history
Oct 16 Rises 401.35 to close at 8,879.26, up 4.02%
Oct 20 Rises 413.21 to close at 9,265.43, up 4.67%
Oct 22 Falls 514.45 to close at 8,519.21, down 5.69%
Oct 25 Falls 312.3 to close at 8,378.95, the DJIA has fallen 5,785.58, or 41% since Oct 9, 2007
Oct 28 Rises 889.35 to close at 9,069.12, up 10.88%, second largest point gain and fifth largest % gain in history
The euro has been consolidating sideways after breaking out of it's bear flag, now it appears to be breaking down.
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