Friday, September 9, 2011

S&P 500 Intraday Bias, 10:00 AM

Neutral, suggesting, in this context, that selling will be contained by the morning's low.
at 9:54 AM Labels:

3 comments:

  1. AnonymousSeptember 9, 2011 at 12:37 PM

    Dax futes are on total breakdown,does not bode well

    Best
    Anon :)

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  2. AnonymousSeptember 9, 2011 at 12:49 PM

    -edit: but a bounce should be considered "healthy" for the move imo

    Best

    ReplyDelete
  3. DragonTraderSeptember 9, 2011 at 3:43 PM

    I think there is more selling to come, but I would expect to see a nice bounce late Monday or early Tuesday. Eventually we will break out of this 1100 - 1250 range one way or the other. Long term trend is still down, but when we do find a bottom, it will be a great buying opportunity in my opinion. Until the long term trend changes however, caution is warranted. 1100 may not hold when all is said and done.

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