The futures came down hard enough on Friday to suggest there must have been an interesting reason, but the chart suggests it was just tiredness. In fact, if the December contract were to fall just a little further to the green line (x=4454.25), that would generate a weak ‘mechanical’ buy signal. I would expect a profitable, one-level bounce, at least, but whether buyers could summon the additional power needed to achieve D=4623.75 remains to be seen, especially since our standby market bellwether AAPL could already be in a bear market. ______ UPDATE (Sep 18, 8:22 p.m.): The fraudsters who work this gaff have been so unimpressive lately that I’m cancelling the ‘mechanical’ bid at the green line, since it no longer promises an edge.
ESZ23 – Dec E-Mini S&Ps (Last:4505.25)