Sunday, November 15, 2015

S&P 500 E-Mini Futures Daily Chart Reaction to Paris Terrorist Attacks

The S&P 500 e-mini futures crossed under the 200-day MA late last week a bearish development. S&P futures begin trading Sunday evening East Coast time and plummet 16 points to 2003 but have since recovered to down 11 points, -0.5%, at 2008. The initial spike lower was down 20 points to 1998.50 with price now bouncing around in the 2005-2010 range. The reaction to the Paris terrorist attacks forecasts a drop of about -0.6% on tap for US markets. The overnight hours have to play out; the US opening bell for the regular trading session at 9:30 AM EST Monday is about 14 hours away..

Australia stocks are trading Monday morning and down about -1%. In Japan, the Nikkei Index (NIKK) is down -1.3% to begin the week. Gold is floating higher to 1090. Gold miners are well bid as there is a slight move to safety occurring. The chart is courtesy of and annotated by Keystone. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note Added Tuesday Morning, 11/17/15, Before the Opening Bell: The weak futures on Sunday evening quickly evaporated in the overnight hours into the Monday opening bell. The S&P's were up +7 Monday morning in the States recovering over 25 handles from the initial drop Sunday evening but did fade negative as the Monday opening bell rang for the regular session. To begin the week, Asia stocks were sold off. Then Europe finished flat. Then US stocks gathered strong momo during the day printing a huge rally. Stocks rallied due to the uber low CPCE put/call and NYMO explained in the previous charts. This (Tuesday) morning, Asia is up big overnight and European indexes cataplut higher playing catch-up and US futures point to a strong open for Tuesday. S&P +8. The Paris terrorist attacks have little impact on markets. Airlines were weak yesterday and recover today. Global traders know the ECB will be firing another QE money bazooka on 12/3/15 so there is nothing to worry about. Stock markets go up forever due to central banker easy money. Raise your goblets filled to the brim with Fed wine and ECB champagne and toast these modern-day money-changers in charge of the Temple. Kneel and worship at the feet of the central bankers! All Hail and Honor to the money God's!

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