Bill Cara’s Blog for Sep 5, 2012
CTA Trading Desk Morning Report
[7:00am ET] Good morning, Geoff here.
Stock futures are slightly lower today as the $SPX continues to consolidate in a bullish flag on its daily chart.
As market participants are being lulled to sleep by weeks of sideways action, I’d like to mention that the Bollinger Bands are reflecting this sleepy story.
The Bollinger Bands have not been this tight in years. This type of coiling action can lead to explosive moves when direction is finally known as price breaks out of its consolidation. At this point, I can make a case for the market going either way so until conviction shows itself in price action, standing aside is not a bad plan – just be careful out there.
Have a great trading day!
Here are the 7:00am ET snapshots of the latest equity market trading results for Europe, and futures prices plus 5-minute charts of the futures for S&P 500, 30-year US Treasury Bond, US Dollar index, Gold and Crude Oil.
|Symbol||Name||Last Trade||Change||Related Info|
||2.22 (0.11%)||Components, Chart, More|
||10.30 (0.44%)||Components, Chart, More|
||5.24 (0.15%)||Components, Chart, More|
||42.61 (0.61%)||Components, Chart, More|
||0.67 (0.20%)||Components, Chart, More|
|^OSEAX||OSE All Share||483.13
||0.90 (0.19%)||Components, Chart, More|
||0.04 (0.01%)||Components, Chart, More|
||42.93 (0.67%)||Components, Chart, More|
||9.18 (0.16%)||Components, Chart, More|
||2.10 (0.22%)||Chart, More|
||8.84 (0.61%)||Chart, More|
|GD.AT||Athex Composite Share Price Index||668.03
||16.26 (2.49%)||Chart, More|
The team will check in during the day, reporting in the Discourse when there is a new entry.
Enjoy your day.