Tomorrow: NFIB Small Optimism Index, Charles Plosser speaks, Redbook, JOLTS, 10 Yr-Note Auction, Treasury Budget, Narayana Kocherlakota speaks.
All the ESH15 buying power was used up in Globex overnight and when the CRUDE oil started going down with energy shares in the S&P down 2.7% and the CLG15 futures all the way down to 45.85. Some people in our room say gas is down $1.50 a gallon. How far can crude oil go down?
Overall price action after the rally has been one of failed rallies.
Fridays and Mondays have been bad but Turn Around Tuesdays has been good for the S&P lately. The Jan expiration study shows
Tuesday up 21 / down 11 of last 31
Wednesday up 17 / down 14 of the last 31
Thursday up 18 / down 13 of the last 31
Friday up 17/ down 14 of the last 31
PitBull Thursday Friday low not working again but we have another rule and its called “Up a day / down a day” during the expiration.
High 2041.50 EARLY
Low 2015.50 Mid-day
Last 29,26.00 down 8.75 handles
Volume 1.5 Mil ESH and 7 K SPH traded
MOC BUY $850mil
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