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Wednesday
Mar162011

Emini Futures Trading / Meltdown Leading To Meltup?

E-Mini S&P 500; Could Nuclear meltdown lead to Market meltup?

The E-Mini S&P 500 seems to be in a meltdown lately hopefully more than the Nuclear Reactors!  For months, we have noted this market trading higher without any major retracements.  There have been some negative economic reports, we have been concerned over inflation, there are battles in the Middle East and we still have a large unemployment number to deal with.  Well, it has taken a fear of nuclear reactors leakage through one of the most traumatic natural disasters that we have experienced in some time.  Each country is now assessing the safety of their nuclear sites while countries such as Italy and Poland are progressing to establish their first Nuclear Reactors.  Japan must produce more Liquefied Natural Gas to substitute with the loss of energy from the reactors.  They must also perhaps import a substitute fuel to compensate for their loss.  Nuclear sector stocks such as Cameco Corp, Shaw Group and Globex X Uranium ETF fell on anticipated slow growth prospects in the aftermath of the crisis.  We still are caught up in the Libyan rebellion and Bahrain unrest which may lead to further contagion fears.  China is slowly beating out the United States as the number one trade partner in Brazil and Chile.  Argentina has sought out a $10 billion dollar loan from China to revamp their railway system.  The US still remains the main trade partner for Latin America.

Todays, US Housing Starts and Permits was the poorest in many years.  New Construction dropped 22.5% last month to 479,000 units.  Building Permits fell 20% to 517,000 units.  The PPI had been up 1.6%.      

Thursday, we look forward to US Initial Jobless Claims, CPI, Real Earnings at 7:30 AM CST.  Capacity Utilization, and Industrial Production are scheduled for 8:15 AM CS!

Thursday, what to expect!  We are technically still in sell mode!  Today’s range was $1283.50 - $1243.25.  The market settled at $1254.00.     Our comfort zone or point of control for this market appears to be $1262.00.   We remain bearish  as long as we stay below $1315.50 according to the Daily Chart.  What we anticipate is an inside to lower day as the market is still showing some increased selling volume.  Anything can happen as a result of the US Economic Reports tomorrow, but the fears of some of the global events may keep the bulls on the sidelines until confidence is re-instilled in the market.

Intra-day predictive set-ups act as a pathfinder to our members and individuals looking for discipline and structure added to their trading.

Join us for OPEN HOUSE FRIDAY! Even if you've taken a Free Trial in the past, you can still come hang out with us Friday morning for 2 hours of Live Trading. Call Leslie @ 1-866-928-3310 to reserve your spot.

The game of life is a lot like football. You have to tackle your problems, block your fears, and score your points when you get the opportunity.
--Unknown

 

Best regards,

Leslie Burton

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