Wednesday, August 10, 2011

Futures Just Below Even Three Hours Before the Open...

Dave is traveling this morning to San Francisco to speak with Tom Sosnoff tonight at the Marriott Marquis downtown at 7 pm.  Those in the Bay area admission to the Money Show is Free.  Please join us...


Futures are flat to slightly lower three hours before the open.  ES -3.25 NQ -4.75
The VIX is at 35 so expect another wide trading range day...a pause or pullback is likely but based on the strength of Tuesday' bounce expect the bounce to continue...



Dave will post later today...

Posted by at

3 comments:

Anonymous said...

Dave,

Thank you for taking time out to post, especially at such an early hour! Safe travels. The education you provide, your steady, rational example, is invaluable. I have improved a lot because of your teachings (still have a long way to go!) THANK YOU!!

Kathy :)

August 10, 2011 at 4:53 AM
Anonymous said...

"Expect Tuesday's bounce to continue" ... Dave just said that to try and trick us into thinking that he really doesn't know the future. :-) Well we know better.

Steven R.

August 10, 2011 at 6:31 PM
Bob S. said...

Thanks for taking out time to post Dave. Wanted to see if my train of thought is correct concerning current market action. Considering that the market averages are in an intermediate downtrend, would playing a bounce on the averages be considered a counter trend trade? And if the last 3-4 days of market action can be considered to be a sideways congestion pattern, is a breakout to the downside the higher probability outcome due to the fact that the averages are in an intermediate term downtrend?
Thanks,
Bob S.

August 11, 2011 at 10:32 AM

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