Henry Ford's MarketWatch LIVE!

4:04 PM
OUTTA HERE...
Everyone have a great weekend...Nice recovery today on all but the DOW. Very positive that we were able to claw back as much as we did in one session. NASDAQ Comp held 1500 and SP Futures held 1000 on close...very important levels. Volume was heavy, so a good indication that Bears were not able to control the market...Be back Monday morning.

:: Henry Ford ::

3:51 PM
CORRECTION...
SP Futures Gap was 1011.30. HOD for SPU was 1011, so still have not technically closed that gap.
There are a ton of stops sitting right above that level so probably are going to hold just below that for the weekend rather than start anything at the end of the day. On a 5 minute chart we actually made a little double top in the last hour which is acting as resistance.
:: Henry Ford ::

3:35 PM
CFTC CoT REPORT RELEASED
Bottom line: DOW commercials still net long by wide margin
NDX Commercials Increased their net long positions once again
SP Commercials reduced their net short positons by 3000 contracts
:: Henry Ford ::

3:15 PM
SP CLOSED THE GAP!
Futures closed the gap going into the 3PM bubble and indices immediately backed off with the SP retraceing down to its recent breakout level in the 1004 level. Key will be to break today's highs, otherwize the boyz will leave traders gnawing their fingernails over the weekend as they like to do.
:: Henry Ford ::

2:31 PM
LOOKS GOOD FOR RALLY TO CLOSE GAP
:: Henry Ford ::

2:10 PM
The SPU futures contract managed to hold our pivot at 995 and within the last 10 minutes has moved back above the 1000 level....next stop is gap at 1009.80.
Hourly RSI in good shape for an advance @ 40
:: Henry Ford ::

1:00 PM
LUNCHTIME
Things are liable to drift for a while here till traders get back at 2PM EST or there abouts. Key pivot number for the SPU was 995 at pivot time of 12:45 EST. We want to see SP futures stay above this point before any subsequent rally, otherwise we are liable to take one more dip down today. So far everything looks on track, Will be back before 2PM or sooner if something looks like it is perking.
:: Henry Ford ::

12:32 PM
Rebound leaders are MSFT SBC AES AXP INTC ROAD ALEX and C
:: Henry Ford ::

12:31 PM
Put Call ratios 135 oex 1013 next order of business for SPU2 is 1013 if we can close this morning's opening gap at 1011.30...running into a little resistance here at 50% Fibonnaci line and we are pulling back to support

:: Henry Ford ::

12:13 PM
11:40 saw the industries and sectors begin to pick up steam. We reached our target of 9420 then backed off. On the Hourly RSI it appears that we may have made a Bullish Flag formation When/if SPU breaks 1020 we should see a melt-up effect take over as Bears get scared out of their short futures and put positons.
:: Henry Ford ::

10:53 AM
Put/Call ratios are through the roof. Getting through 9420 potentially will indicate we have seen the end of this panic attack. Curbs will come off around 9390 or sooner if the clock runs out. Just went to 66% positive NAZ stocks this 5 minute period. Healthcare/Biotechs leading here.
:: Henry Ford ::

10:33 AM
MARKET/SECTOR UPDATE
37of 100 NAZ stocks are now positive on the open...(we were as low as 9 at the low point)
Only 6 positive industry groups MoneyCtr Banks/Major Drugs/internet-networking/comp periphs/retail grocery/Mining-non metals/Biotech

DOW has 12 positive stocks with SBC and MSFT the leaders
:: Henry Ford ::

10:26 AM
CAPITULATION?Has all the earmarks so far. Important time frame will be 10:35 EST which is a common decision point for pivots. All Indices well off of their bottoms now, so at some point we will see short covering come in as bears scramble to take profits. At the same time Bulls have been looking for accumulation which was probably the majority of what we have seen so far. 976 SPU seems to be the line in the sand and if we don't get above 9390 shortly so curbs are lifted, this should provide the short covering/buy point for traders.
:: Henry Ford ::

9:49 AM
Only 7 positive industries here this morning. Tobacco leads followed by Internet Network Services/Major Drugs/Beveredges/Retail Grocery/Mining Misc Metals and Conglomerates....exciting stuff
:: Henry Ford ::

9:41 AM
MORE REPORTS DUE
Michigan Sentiment Survey will be the next market mover
:: Henry Ford ::

9:29 AM
GAP DOWN
This could be climactic today
:: Henry Ford ::

9:21 AM
GOOD MORNING
:: Henry Ford ::

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