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Posted (edited)

Always interesting to watch the futures after a long holiday weekend. We are also now into what they will call the Christmas rally time of the season. I'm sure Jim Cramer may bring it up next week, or Bubblevision in general. If someone can stomach to watch long enough to see if that is true, please report in. 🙂

Chart porn, and once again back to the 10/10 candle. The market is a traders dream - volatility - cha-ching. 3 month chart by day of the S&P.

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Nice little profit in only five trading days, but if you stayed long over the weekend and can't do squat until the market opens on Monday morning... For those who play the market this way, they are taking quite a risk over a long weekend. Which is why many of them go broke before they get rich and live on their own island. And there is nothing worse than watching things take a **** and can't do anything about it.

So what's the market look like on this fine Sunday night?

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Not too far above these levels are the all time highs. Which way do we go? 

ON EDIT: The futures market (chart above) is the cash market. The S&P is the index. They trade the futures market (you need a margin account with a brokerage) so what they call the e-mini (S&P futures) is a more accurate visual of what is going on with the money than the index.

 

Edited by Screwball

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