Add/subscribe

Share/Save/Bookmark

Tuesday, August 19, 2008

Aug 19 2008 Emini S&P 500 futures ES hourly


Trend line busted fell through support, if we break support here we are headed for the open gap at 49.75.
Expecting some big support here.
Lets see where it goes.

Focus on Growth not on inflation

Two-year Treasury notes rose on concern that financial firms face widening losses from credit markets and the U.S. housing slump. Yields on the securities touched a five-week low as investors sought the relative safety of government debt. Lehman Brothers Holdings Inc. may post $4 billion in writedowns when it reports fiscal third-quarter earnings, JPMorgan Chase & Co. analysts said. Builders in the U.S. broke ground on the fewest houses in 17 years in July, signaling the drop in residential construction will continue to hurt economic growth.
U.S. stocks fell for a second day, boosting the appeal of government debt's fixed returns. The Standard & Poor's 500 Index lost 0.7 percent, with the S&P 500 Financials Index dropping the most among 10 industry groups.

It's not surprising that high oil and other commodity costs have had a huge impact on prices for everything, at every level. At $147 per barrel, oil impacts everything that gets produced, transported and ultimately purchased by consumers. Even when you exclude "food and energy costs", you still have lingering adds due to the price of fuel... and they'll be with us for a while. But, oil is now trading at $112 per barrel, down $35 from its July peak. It will take some time for these lagging indicators to reflect the relief that is already coming from that. What we're seeing now is the worst reflection of inflation because oil was at its highest in July. It would serve us all better if the focus would be on growth instead of inflation.

Day trading S&P 500 emini futures live trading room and day trading course's Fan Box