Emini Futures | Podcast For Monday 03/19/12



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Fibonacci made simple is akin to Jumbo Shrimp. In other words, "Is that really possible?" For the uninitiated, let's turn first to the man and then the math.
Who? - Fibonacci, or more correctly Leonardo da Pisa, was born in Pisa in 1175AD.
What? - Fibonacci is perhaps best known for a simple series of numbers, introduced in Liber abaci and later named the Fibonacci numbers in his honour.
The series begins with 0 and 1. After that, use the simple rule:
The S&P500 Cash Index reached the 1400 milestone today after 4 years. That puts us just 150 S&P points from the all time high. I'm curious how you view this development. Please use the comment section at the bottom of this post to share your thoughts.
Last night we suggested that price would find its way to either 1396 or 1377.
The S&P500 Emini Futures have spent the last 32 hours without touching a Weekly Trading Zone. We are in the upper area of a 20 point range and the bulls are running like it's Spring in Pamplona. If you're going to run with them, just make sure you don't trip over the Vix. Tomorrow night I hope to cover as time permits, some information on both the VIX and the VXN as provided by our Co-host Mike Reed of TradeStalker and our good friend Garrett Jones.
I know it doesn't feel like it, but you and I have just spent the last 3 years in one of the greatest bull runs in history. Really?
S&P 500 Futures rallied strongly after today's Fed announcement.
DJIA rose 1.68% to 13,177.68, above 13k level and 2012 record; Nasdaq jumped 1.88% to 3,039.88 above 3k Level and 11-year high. S&P 500 climbed 1.81% to 1,395.96 (Close to the 1.400 level never reached since June 2008). This gains were spurred by a J.P. Morgan Chase & Co. announcement that it had passed the stress test. J.P. Morgan said it will raise its dividend and has already announced a $15 billion stock buyback plan.
Trading was lackluster again today on Wall Street ahead of a Fed rate announcement which comes tomorrow, Tuesday March 13, 2012 at 2:15pm ET. The S&P500 Emini Futures spent the day session inside a 7 point range settling below 1368. Once the Asian markets opened we saw a 7 point move on Gloex in the first hour.
We've posed this question many times on the Radio and it seems to be one that simply isn't going to go away anytime soon. What happened to the engine that once drove the world's economy? Are we naive enough to believe that our economy and markets have become so stable there is simply no price fluctuation? Or is there something else at work? Something powerful enough to keep the markets in check despite the bullishness of buyers to drive it higher or the bearishness of sellers to knock it down?