Thursday, August 23, 2012

ES Update

Like the positives (all short term) in many of the averages, we have a positive in ES 1 min now, the S&P E-mini futures, so I feel pretty confident we'll get a move up, ho long, how far? I can't say that, but they don't usually run a move unless it fulfills a specific purpose, in this case the buy the dip crowd are getting nervous and need some price confirmation to keep them long before the floor is dropped out from below them, as I said, Wall St. will probably have to throw them a bone to keep them in place.

ES seems to agree

If you are very nimble, you can probably play an upside move, remember Reg T about day trading, for me I'm more inclined to be patient and wait to see where the shorts and put set up.

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