The YM short is +100. We will most likely get a bounce, but I think we will soon go and test the post-labor day gaps (10537/10500). Same for ES.
I think the market will get a surprise when jobless claims are released in the morning. Estimates are for 350,000, it could well be double that, 6 to 700,000. I don't know how they came up with such a low estimate, but it opens the door to a nasty surprise, especially since the feds are not likely to halt rate hikes next week anyway. CPI is due as well. Volatile open.
I think the market will get a surprise when jobless claims are released in the morning. Estimates are for 350,000, it could well be double that, 6 to 700,000. I don't know how they came up with such a low estimate, but it opens the door to a nasty surprise, especially since the feds are not likely to halt rate hikes next week anyway. CPI is due as well. Volatile open.
This entry was posted
on Wednesday, September 14, 2005 at 9:53 PM.
