US Market Pre-Open 2010-11-5

By News Robot
    ESNQ
    AH High1222.252191.00
    AH Mid1217.382183.88
    AH Low1212.502176.75

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Comments
  • Lawrence Chan November 5, 2010 at 10:13 am

    Potential breadth overbought condition in place.
    A pullback from here on daily is likely.

  • Lawrence Chan November 5, 2010 at 10:36 am

    High prob. for a tag of pivot today.

    So a low risk play today is to look for a top in 10 am slot.

  • Lawrence Chan November 5, 2010 at 10:58 am

    10 am slot trend hour – more upside still.

  • Lawrence Chan November 5, 2010 at 11:06 am

    If R1 acts a resistance, PP in play.

  • Lawrence Chan November 5, 2010 at 11:14 am

    Today is a prime example of event shock. The pending home sales # has been delayed from 10 am to 12:30 pm. That alone modified the regular behaviour for at least a group of traders who expect to act on the moves created by the news. Other traders who are not aware of the delay would assume the market has already reacted to the news and making wrong conclusions in their analysis.

  • Lawrence Chan November 5, 2010 at 11:18 am

    NQ being pressed below previous day close, weaker relative to ES.

  • Lawrence Chan November 5, 2010 at 11:43 am

    Fun ride down now =P

  • Lawrence Chan November 5, 2010 at 12:06 pm

    ORL tagged. Price should stay below ORH for the down move to continue.

    Staying below previous day high is even better as the momentum will be stronger for a push towards S1.

  • moneymonkey November 5, 2010 at 12:14 pm

    One tick below OR low bounce back with miniature higher low buy formation.

  • Lawrence Chan November 5, 2010 at 12:15 pm

    Beware of the 12:30 #

  • Lawrence Chan November 5, 2010 at 12:53 pm

    Picture perfect ORH + VWAP test.

  • Lawrence Chan November 5, 2010 at 1:16 pm

    ORH breached again. NQ tagging previous day close.

    ES sitting at absolute neutral zone.

    Fed Chair going to speak by 2 pm.