Wednesday, December 21, 2011

Wednesday Evening S&P500 Futures Charts & Musings

By Sell Puts 12/21/2011 08:16:00 PM

5 min ES
Pretty tame session today volume wise, though the index saw large price swings from 1249 down to 1233. Pretty much no real concrete news or anything knew to speak of to cause the large swings besides a crude inventory draw and some tepid home sales..

The downside pivot today coincided with this past Friday's high as well as yesterday's mid morning ramp initial resistance point. I expect some of the same action going into tomorrow and into friday... Friday half day remember.... Crude oil has disconnected from the rest of the train trading over 99 this morning and evening. Just in time for Christmas 100+ potential oil. USD and EUR quiet & locked in a range.
30 min CL 

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