Globex futures were up strong overnight and added about 2 points more after
the economic news was released.
As of 9:02 am EST the S&P 500 futures are up 15.5 points when premium is factored in, so needless to say we should anticipate a sharply higher open.
The day to day sequencing is currently in the acceleration mode so we remain in the buy weakness mode for the bulk of our day trading.
This does not mean that short sales are out of the question. It simply implies that the short side will have to be close to twice as convincing an argument in order to take the trade.
I will be posting the Opening Range Breakout Numbers as soon as they are available.
Some key numbers to keep an eye on today in the Cash S&P 500 are 1465.36, 1467.98 and 1492.07.
I am curious to see if today finally brings the volatility of options and futures expiration that usually we see on the Wednesday before but failed to materialize this time. If the volatility comes today, then we may be presented with some great opportunities.
Good Luck Today and Just A Reminder.....
This will be my last day trading session until the day after Christmas.
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