Well, this is pretty cool to see from Paris.
If only they had Larry FINK in their clutches. How cool that would be!
Here in these here U-ni-ted States, it’s a mellow morning, just like I like. The equity futures are a mixed bag of a little up and a little down, and importantly, the /ES seems to have been held back by its trendline (although the small violation is a bit irksome).
The only economic report of consequence was the unemployment claims, and it came in well above forecast. In other words, the economy is quite clearly starting to feel the effects of the monstrous recession which has already started and, in a year or so, the government will finally confess exists.
I think one of the most exciting setups right now is volatility, because thanks to the Billionaire Bankers Bailout, the VIX got smashed down from 30 to 18. This sucker is coiled to explode. All it needs is a reason. A string of lousy earnings reports would do the trick.
Today is, sadly, the last trading day of the week. Tomorrow morning has the biggest economic data point of the week (unemployment), but all we’ll be able to do is see how the /ES reacts for 45 minutes, at which time it’ll close until Sunday evening.
