here’s the last post on the e-mini:
key juncture for the bull/bear case … either way, I think we are terminal. it’s either HERE after the FED meeting OR we’ll cook it off and rally into the new year and then pull the plug. I have presented both pictures below ….something to keep in mind. what do “they” have in mind at the end of the week. a very large reweight is to occur on Friday w/ the introduction of Facebook into the S&P 500. so, that means there will be a LOT of STUFF for sale. Stuff is the proprietary list of names (supposedly) that will be worked (manipulated) by the arbs to get it done. in addition to that we have some extremely long term SELL patterns occurring across a multitude of instruments.
and, don’t forget the USD. that will be KEY moving forward as we’re certainly “thinking” we have carved out a bottom on the USD index. we’ll see ….
so like NFP, I’ll be sitting this one out. no need to think I can play in the world of high frequency trading, hedge fund gorilla’s juggling dynamite and Goldman Sachs knowing exactly what is going to happen before it happens. I’ll check in around the Asian open to get a feel. Certainly hope that high on the EURO doesn’t get taken out. make it a great day …
PS — POUND pumped up today – a SURPRISE in their jobless numbers. Guess we are final “recovering” after the 4 year recovery? things that make you go hmmmm