Overnight Futures

Futures look strong in the early trading with the Dow futures up 97. I have a feeling any strong open on Monday will be sold quickly.
 
Maybe so, but that's one step up from "opening up the trap door if nothing comes out of Europe and you get capitulation selling." Something sensible has just come out of Europe: Merkel talking. That, I think, sets the stage for a better week without any serious drama on Monday. I may be wrong.
 
Futures look strong in the early trading with the Dow futures up 97. I have a feeling any strong open on Monday will be sold quickly.
Well, at least I had it right that the 97-point gain would be sold off. The Nasdaq was down 1% at one point. But who saw that late afternoon rally coming?

Still, just getting back to resistance so the bulls and bears can't declare a winner yet.
 
Re: Futures

4 hours until the futures open. Any guesses on which way they go? Up big, down big, flat...?
 
Re: Futures

4 hours until the futures open. Any guesses on which way they go? Up big, down big, flat...?

At this point, the futures don't seem to have much bearing on the market for the day, it seems like it is all decided in the last few minutes of trading each day. That said, I'll vote for flat futures when they open, negative futures a few hours before the open and into the open, and then, the market is flat all day on low volume until the end of the day when a big move happens on roughly the equal volume to the action that occurred for the first 7.5 hours of the day.
 
I didn't see anything overly positive after the close on Tuesday, but the futures ran up sharply between 4 PM and 4:15 PM yesterday afternoon. Enough so that the S&P futures, with fair value, are up about 11-points right now, and the Dow futures + FV are up 80 points.
 
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