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