Today started with 200k ESZ traded on Globex, trading range was 1693.50 – 1687.25. Tuesday’s regular trading hours (RTH’s), SPZ pit session trading range was 1701.00 – 1688.00 before settling at 1692.50, down .2 handles. In Asia, 8 of 11 markets closed lower: Shanghai Comp. +0.13%, Hang Seng -0.32%, Nikkei +0.76%. In Europe 6 out of 12 markets quoted were trading “modestly” higher: DAX -0.29%, FTSE -0.36%.
Roger_Volz (06:03) German consumer climate 7.1 v 7.0/ Italy 101.1 v 98.5 / France business survey 97 v 99…UK CBI retail sales balance +34 in Sep, from +27 in Aug (RT poll was +24), expectations balance +31 for Oct from +26 in prev. month / o/n took out yesterdays low ES – ditto YM, not so TF, EMD, NQ / MBA Mortgage Application at +5.5% / ES daily working < 13er 1691.75; in series 5er R 1698.75/13er/21 at 1670 / NQs working higher lows 3206.25-3203.75 gang / NQ inside day resolution needed for directional guidance / ES Wkly 3sma 1687.50 gets globex try / ASX/HKHS counters sea of red/OMX, Indonesia lead declines. U.S.August Durable Goods 0.1% vs -0.2% Expected; Ex-Trans -0.1% vs 1%…ty I.I….like to see bulls keep increasing if correction phase comes in – August Durable Goods 0.1% vs -0.2% Expected; Ex-Trans -0.1% vs 1. T+ 3 is in effect.
Today’s December S&P 500 (SPZ) pit session opened fractionally lower at 1691.50-1692.20, marking the early high before …
*WAL-MART CUTTING ORDERS AS UNSOLD MERCHANDISE PILES UP IN U.S. Roger_Volz (12:47) 2nd time this year WMT email from mid-level employee has rocked the mkt. Biz still bad, stores still dumps.
Jim_M (12:43) [SPY] updates> 169.41 midpoint > near term res.. 169.64 > converted will check on the 169.90’s that we touched. below 169.26 near support / if that breaks a next support is near low 168.89. Jim_M (12:45) anybody see H&S all over the place? on ES YM/NQ I even see it in the range chart. a measure move after right shoulder would be 82 area they all formed right shoulder and dropped (circle is when i messaged) http://bit.ly/1bcyAzs Also, william_blount (13:26) ok –BEARS DESPERATELY NEED A WEAK LAST HOUR HIGH AND A SELL OFF INTO THE CLOSE FROM THAT HIGH–BULLS NEED NORMAL AND BACK THROUGH THE 1692.2 OPENING/SPOT spot = 1693. Also, Roger_Volz (13:21) JP MORGAN NATIONAL SETTLEMENT MAY REACH $11B, AP SAYS – [JPM] H/S working 50 neckline; bending not breakin. Chatter was calling for fines in the $20Bil area – so, i guess $11Bil does not sound so bad…
stockmarketwhisperer (13:46) Here’s what I’m watching for, 2 time frames: today,…and weekly: We are at critical levels as we get to this impt aspect at 11:40…If market doesn’t bottom and/or turn at that time ..then the 12:18-ish is all that’s left TODAY as a possibility.= ‘do or die’ at these times.. A close below 15,260 in dow and/OR a break downside of 83 es= we will see the 1674 I mentioned yesterday BEFORE the turn up comes…(on strongest positive aspect for the WEEK which is later thursday (tomm).. Preferred setup is we see 74 before that bigger sized turn. IF these daily lesser aspects fail today, (and larger cycle is ruling)…then we are going to erode down via ‘chop suey’ until late thurs OR all the way until Oct 3-5. Its hard to differentiate until we break (or don’t) the KEY levels mentioned. If this H & Sh has a say! (=down to Oct dates) Thursday later in the day/after hours, is the real test for THIS week as to if we get a countertrend turn up. So..still a lot of time.
The early look on the closing imbalance showed (14:19) MiM – MrTopStep Imbalance Meter showing 51% sell side with only 400M traded on the NYSE. (14:31) MiM – MrTopStep Imbalance Meter showing 58% sell side. The cash close traded 1686.30 area before settling at 1685.80, down 6.7 handles – also, down for the 5th consecutive day.
Lew: New debt limit deadline is Oct. 17, comes about two weeks earlier than some independent analysts had predicted.
Here’s why Obama won’t delay the individual mandate — The White House is no stranger to Obamacare delays. Over the last three years, it has held off on multiple health law provisions as it races to get the Affordable Care Act off the ground. Don’t expect it to happen during this round of budget negotiations. http://wapo.st/1dJwapq
MrTopStep webinar last Saturday – An inside look at our “Collective Intelligence” featuring Jack Broz, Kathy Garber and Frank Ochoa – was very well received! A big shoutout to the MrTopStep “Collective Intelligence” group, as well as to those that were able to attend. We thank all of you for your time and efforts and hope to see you in the Boot Camp! View the replay