Post S&P Downgrade of Major Bank S&P500 Futures Look

5 min ES.. 

Well S&P's did it again.. cut the our nations largest banks from A to A- ... Moody's has the united states on outlook negative... the megaphone pattern in the ES today clearly has something up its sleeve.. remember historically a megaphone pattern is bearish even though when the pattern is forming it appears bullish.. Patience...

1189 is the lind in sand... the low's we are sitting on in the overnight session are indeed the lows which we sat on during cash session.... Gonna be another long night.. keep eyes again on the dollar... and of course the euro.. CL is indicating some weakness under the 98 level.. again 100 fail to hold for a open pit session... even though the mid east is up in arms... the markets are unsure and dangerous.

Posted in: Chart,crude oil,Market,SPOOZ