Best wishes, America, in your recovery in the wake of Hurricane Sandy! My thoughts and prayers are with you.
Markets have been closed since Monday due to the hurricane. Below is an update of the YM, ES, NQ & TF e-mini futures indices, with the last two days (comprised of Globex-hours trading only) signalling a potential reversal. We'll need further clarification during full market-hours trading when that resumes (scheduled for Wednesday). All four are now below their channels from the June lows, and any bounce may only be testing the bottom of the channel before resuming a downward trek.
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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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* Tues. July 16 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
* Wed. July 17 @ 2:00 pm ET ~ Beige Book Report
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* Fri. Aug. 2 @ 8:30 am ET ~ Employment Data
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NOTABLE POSTS WITH IMPORTANT UPDATES...