Daily Archives: December 13, 2013

Palo Alto in a Single Image

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1213-paloalto




Another Inflection Point

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The main ES contract has moved from December to March today and ES (March) is trading 6.25 handles below SPX, which needs to be borne in mind when looking at ES prices.

Yesterday’s close was a cliffhanger, with strong short term bull and bear scenarios that I posted on twitter and was thinking might well be resolved at the open. The bull scenario that I posted yesterday night on twitter was the declining channel on RUT, with the obvious next move being a bounce towards channel resistance, at which point RUT would either break up or turn back down. RUT 60min chart: (more…)