yep, UGLY daily candle for the VIX, now on the 60 min one could
argue that it's a retest of the broken downtrend line.
However AMZN earnings beat, futures are up a few points after
hrs.
Again, yesterdays pullback was probably a wave 4, we need
another up leg to new highs, 1120 etc
1096 is a breakpoint, a close over that level, then new
highs. Long term trend remains up and has remained up.
Nothings changed.
It really doesn't matter what the overnight futures are now,
unless it is a significant move. Sorry but 2-3 points we have seen
get reversed easily by 9:30.
And we probably don't need to wait to see a close over 1096. The
market is so close to that breakpoint, we could see it just blow
through and not look back....don't need the close to tell me to be
sitting on sidelines. Then again, after yesterday's preformance who
the heck knows.
Posted by marketguy on 22nd of Oct 2009 at 09:22 pm
you're right...futures will be meaningless tonight for the most
part as it'll be all about Mr. Softie (MSFT) with their earnings
report pre-mkt tomorrow...hard to imagine they'll lay an egg given
everyone else's success with the dumbed down estimates but you
never know...
yep, UGLY daily candle for
What a fake out by the $VIX!
Posted by matt on 22nd of Oct 2009 at 04:17 pm
yep, UGLY daily candle for the VIX, now on the 60 min one could argue that it's a retest of the broken downtrend line. However AMZN earnings beat, futures are up a few points after hrs.
Again, yesterdays pullback was probably a wave 4, we need another up leg to new highs, 1120 etc
1096 is a breakpoint, a close over that level, then new highs. Long term trend remains up and has remained up. Nothings changed.
Futures overnight reverse all the time
Posted by perthx on 22nd of Oct 2009 at 08:59 pm
It really doesn't matter what the overnight futures are now, unless it is a significant move. Sorry but 2-3 points we have seen get reversed easily by 9:30.
And we probably don't need to wait to see a close over 1096. The market is so close to that breakpoint, we could see it just blow through and not look back....don't need the close to tell me to be sitting on sidelines. Then again, after yesterday's preformance who the heck knows.
all i know for sure is watch the dollar!!d
you're right...futures will be meaningless
Posted by marketguy on 22nd of Oct 2009 at 09:22 pm
you're right...futures will be meaningless tonight for the most part as it'll be all about Mr. Softie (MSFT) with their earnings report pre-mkt tomorrow...hard to imagine they'll lay an egg given everyone else's success with the dumbed down estimates but you never know...
Good call.
Posted by fkarlson on 22nd of Oct 2009 at 04:43 pm
Good call.