PM update:
ES jumped up to 1968, which is exactly 50% of the entire 2007 range on the continuous contract. This is why cash traders need to watch futures. The VIX went as high as 29.82 on the early morning drop. Note that weekly R2 for the VIX is at 30.22, which is pretty close. That could have been supportive. Watch ES 1450.75 on any pullback (50% today).
ES jumped up to 1968, which is exactly 50% of the entire 2007 range on the continuous contract. This is why cash traders need to watch futures. The VIX went as high as 29.82 on the early morning drop. Note that weekly R2 for the VIX is at 30.22, which is pretty close. That could have been supportive. Watch ES 1450.75 on any pullback (50% today).
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on Friday, August 10, 2007 at 8/10/2007 01:04:00 PM.
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