Emini Trading Update – Friday 2 Sept 2011 (19:36)
Hope no one was surprised by the 60 point sell off in the last 2 days – nicely signalled on the daily chart with cycles and TRIN.
Discussion of the move happening from “risk on” to “risk off” in the video. Will this continue for the full swing on the daily charts (i.e. all next week)? Or will we get “caught” on Tuesday/Wednesday with low range bars and never get close to the 1,100 low?
We’ll have to wait and see. It’s now September, very few good news stories about, etc. I think a Flush signal on Crude Oil would be interesting – no, let’s just take it day-by-day.
Enjoy Labor Day long weekend in the US. Don’t forget the market is shut on Monday.
Chicago PMI (Purchasing Managers Index)
Just a note on the Chicago PMI data release that surprised me on Wednesday.
The number is released to PMI subscribers at 8:41 am (CST) and then to the general public at 8:45 am. Hence the volatility “early” at 8:41 am in Wednesday’s video.
Bloomberg indicated that the number would “Merit Extra Attention” but not be “Market Moving”. Well – not this time! Glad I was on the right side of that trade.
More information here on the Chicago PMI. HT to Howard M. for filling me in.
Link of the day …
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Good luck with your Emini trading.