The contract high for Dow Sep Futures was 17,085. Friday’s low was 16370. That low took out the May 22nd low by 60 ticks.
A 715 point break from the high to Friday’s low pencils out to a 4.2 % pull back. If you read my last few entries, I wanted to be a buyer at a 5% break. That would have been an 854 point break, or 16231.
For Sep S&P futures, the high was 1985. A 5% correction would take us down 99.25 handles. A 10% would take us down 198.5.
Friday’s low was 75 handles off the high, or […]
This is a weekly chart for Dow Futures. Given the hysteria today, I started looking at where there MIGHT be TECHNICAL SUPPORT. Food for thought if you are 1) short and looking for a down side recovery point, or 2) looking to step in and buy on a “dip”. Remember, with the Dow at 17000, percentage points are much more important than raw numbers.
The talking heads on TV like big numbers but decline to talk about the percentages. 300 points with the Dow at 6,500 […]
This is a weekly chart for Dow Futures. Given the hysteria today, I started looking at where there MIGHT be TECHNICAL SUPPORT. Food for thought if you are 1) short and looking for a down side recovery point, or 2) looking to step in and buy on a “dip”. Remember, with the Dow at 17000, percentage points are much more important than raw numbers.
The talking heads on TV like big numbers but decline to talk about the percentages. 300 points with the Dow at […]
Today, November beans rallied 22 cents off the lows right after the announcement of the plane crash in Ukraine. Once digested, the market reversed and headed lower. Today was a day where it was almost unavoidable to get stopped out. I entered the day wanting to be short the grain rally. We were stopped out. After the gyrations, the model took us from net long to once again net short.
We’ll see how tomorrow plays out, now that we have more geopolitical machinations on the 24hour news cycle. As of this writing , Israel has begun a ground invasion into Gaza. Its any one’s guess […]
Written By Chris Robinson
Corn: September Corn settled up 3 ¼ cents at $3.81 ½. After falling to a new low for the move in the electronic overnight session at $3.74, the contract trended higher, regaining 7 cents from that low. Crop conditions came in at 3PM and came in at 76% good to excellent. This is 1% better than last week’s 75%. Corn pollination was reported at 34% vs 15% last week. Focus will be […]