Overnight session:
ES drops further, hitting 1177, not far from the multi-year support outlined earlier. In fact, 1177 is 50% of the bull market if you use the continuous contract. Crash scenario occurs below 1168, but until then, this could be an opportunity (even a crash is an opportunity, it clears the decks once and for all). Use the September contract to get an idea where cash is (support 1168/1172). The two year note is slightly negative, the ten year is up. Oil is testing 91.
CPI on deck at 8:30.
ES drops further, hitting 1177, not far from the multi-year support outlined earlier. In fact, 1177 is 50% of the bull market if you use the continuous contract. Crash scenario occurs below 1168, but until then, this could be an opportunity (even a crash is an opportunity, it clears the decks once and for all). Use the September contract to get an idea where cash is (support 1168/1172). The two year note is slightly negative, the ten year is up. Oil is testing 91.
CPI on deck at 8:30.
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on Monday, September 15, 2008 at 9/15/2008 10:41:00 PM.
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