If ANY of them are over their lines – I wouldn't short but I would short /ES for sure below 2,000 with tight stops.
As I said - we're playing for a bounce off $30 (with tight stops below) because we expect more rumors to lift oil into Wednesday's inventory report.
NYSE only up just over 1% and that one too is behind (10,582), so not confirming – which makes /TF a good short at 1,185 (tight stops above) and, of course, the other lines are still good shorting targets. .
Shorting the Russell was the right move as that index took a nice dive and this morning it's failing 1,180 again for another ride down for the shorts (tight stops above) .
We went over all the charts and market-moving news earlier this morning and, as I noted above, we're still long off yesterday's Futures lines with very tight stops below.
Of course stopping out your losers is important with Futures and we'd be happy to get back in either over $2.10 or off the $2.05 line (with tight stops below).
Today should actually be a pretty dull day, we still like yesterday's shorting lines but tight stops above as the ECB makes their policy announcement tomorrow morning and that means we've all got Draghi Fever - maybe he'll throw another Trillion onto the fire?
What a start, Europe is down at the 2.5% line already and our Futures are off about 1% but those should hold so we can play for bounces at 15,500 (/YM), 2,040 (/ES), 4,470 (/NQ) and 1,090 (/TF) but tight stops if ANY of them fail.
When Banksters tell us to get out of something - it's usually time to get in and, this morning, I put out a Trade Alert to our Members (and tweeted here) to take a long on Oil Futures (/CL) at the $30 line (with tight stops below) as well as lines on various indexes I detailed in the Alert. .
Aside from our jubilant indexes, we have oil back near $50 (nice short with tight stops above on /CL) and gold at $1,250 (/YM) and silver at $16.50 (/SI), which will also be a good short if the Dollar goes higher but, overall, we're bullish on metals as things begin to hit the fan. .
After a brief flirt higher, we're back to 17,650, 2,060, 4,375, 1,112.50 and 16,720 and I wouldn't use /NKD but the others all make good shorting lines to play (if 2 are under, short the laggards, look for last others to confirm and tight stops if any go back over). .
