Actionable ideas for the busy trader delivered daily right up front
- Wednesday lower.
- ES pivot 2039.58. Waiting to see which way it breaks.
- Rest of week bias lower technically.
- Monthly outlook: bias higher.
- YM futures trader: no trade.
| "The Koran - it doesn't stop bullets" |
Tonight I am once again overwhelmed with the burdens of ordinary existence so it's another Night Owl Lite night. No detailed charts, just the results.
The technicals
Market index futures: Tonight, all three futures are lower at 12:48 AM EDT with ES down 0.11%.
ES daily pivot: Tonight the ES daily pivot ticks up from 2039.42 to 2039.58. That leaves ES sitting virtually on top of its new pivot so this indicator tonight has no predictive power. It will all depend on whether it falls through or bounces off by morning.
Accuracy:
Month right wrong no call conditional batting Dow
average points
January 9 5 5 0 0.643 1433
February 9 3 5 3 0.800 1133
March 5 4 5 1 0.600 103
And the winner is...
With a rising VIX, dojis in the Dow and ES on Tuesday moving lower and confirming Monday's reversal signs, and the new overnight guiding lower, I'm going to go out on a limb and call Wednesday lower.
YM Futures Trader
No trade tonight..
Posts
Thanks for the analysis. Yes yet another attack. What major event will cause us to finally put political correctness aside and increase monitoring and arrests of those teaching hate at Mosques, and enhance immigrant screening. Islam, as revealed in the later parts of the Quran and in the Hadith, is a very intolerant religeon bent on spreading Islam. How long will we tolerate that?
ReplyDeleteHow long? As long as we keep getting weak, ineffective so-called leaders who are more interested in burnishing their legacy as "statesmen" than addressing the harsh realities in the world today.
DeleteWhat we need is another Charles Martel, because we are headed for a rematch of the Battle of Tours. Maybe not next year or the next decade, but it's coming for sure.