From Zawya.com 11 hours ago "Dow Jones Industrial Average futures were last down 131 points in screen trade. "
From the Economic Times 11 hours ago, "Futures for the Standard & Poor's 500-stock index were down about 1 percent. "
From Market Watch, 12 hours ago, " Dow Jones Industrial Average futures DJ1U -0.71% were down 122 points at 12,499 and S&P 500 futuresSP1U -0.82% were down 12.80 at 1,328.20 points. "
From Futures Magazine 12 hours ago, "markets Sunday night with the S&P 500 Emini contract sinking as much as 18.75 points"
From Zero Hedge Last night " And The Opening ES Print Is...
1331.75
Sorry, Timmy, Boehner, and Obama. No apocalypse. Better luck next time.
Update: 1326...
Maybe we spoke too soon.
Update: 1322..."
As you can see, the futures were manipulated last night, causing the bears to short the market on the open, the recovery through the morning puts them at a loss, when they start to cover, we get a short squeeze and maybe enough momentum to get to the breakout levels I've been anticipating since last week. The Q's already made it.
Here's the updated Sector Rotation, which is favorable to the DOW-30.
The most important change for the Dow would be Industrials in purple, Energy s also helpful, but there's a major change in industrials. Tech remans strong supporting the NASDAQ-100
The point is, the sheeple following the futures were deceived. This isn't to change any views on the health of the market, we talk about tactical (short term) and strategic (long term), this was a tactical play to effect a strategic outcome. Remember, nearly all reversals we see (in this case we are looking for the downside reversal) are preceded by a false breakout, The Q's are there, the S&P is close, the Dow is close.
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