holiday update

SHORT TERM: many assets moving quickly overnight, YM (DOW) -73

Overnight the Asian markets were mixed. Europe opened lower and closed -1.25%. US index futures were lower overnight, and then in the last two hours of holiday trading dropped even further. For the session the ES (SPX) was -12.50 and the NQ (NDX) was -26.50. For the better part of the session Silver currently +$1.58 and Gold +$18.00 were the headlines. Then Crude began to soar currently +$5.20 in afternoon trading. It was when Crude rose over $3.00 that the equity futures started to drop in earnest. Bonds ended +7 ticks and the USD was slightly higher, putting in a quiet performance. Fears of a Middle East oil disruption appear to be gaining some momentum. Overnight trading should be key to the opening tomorrow in the US.

Support for the SPX remains at 1313 and then 1303, with resistance at 1363 and then 1372. Short term momentum declined from overbought on friday, to neutral, and then bounced higher. Tomorrow Case-Shiller at 9:00, then Consumer confidence at 10:00. Best to your trading!

CHARTS: http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1606987

About tony caldaro

Investor
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22 Responses to holiday update

  1. zimbabweanimike says:

    http://elite.finviz.com/quote.ashx?t=Uco
    Chart ran out of paper. Right as opecker wigless lips. Lol

    Like

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