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“Black friday to set pace”……….?? I don’t think so… “Irish bailout in focus”…?? More likely, at least it was last night.

by fishhook

The ES showed a significant rally last night as the Irish news of a $100 billion plus bailout reached the night market. This rally up from the globex opening did not hold, however, and this morning the stocks are hovering around unchanged to slightly negative. In the short term, the next few days here, the market should be poised to take on more money as the end-of-the-month influence [...]

This market needs badly to exhale some air or its lungs will explode.

by fishhook

Ok gang…………it’s that time of day!

The 1127 breakout area on ES has been tested, re-tested, and now re-re- tested twice today. While it has thus far held, the bounce from this area has been “tepid” to say the least. The last hour today should be telling. If we close below 1125.00 on ES today, the corral fence will have been busted to the downside, and the south 40 will [...]