Henry Ford's MarketWatch LIVE!

3:55 PM
GOING OUT ON THE LOW SIDE

Looks like the game this month is to do a flip of normal expirations where they rally into Thursday's close then slam it down the next morning. This time we are going to be going out near the lows AFTER taking out the last gap on the DOW and SP500. I will post the closing chart in a couple minutes and you will see that we have established coordinated bottoms in price MACD and RSI on the hourly chart...looks the same on most other indices and this would be a set up for a strong rally day tomorrow. This was the same reversal we saw with last months expiration. Means that the upside could now be extended rally well into next week.
There is still a possiblility that they could go down to support around 1005 or even for a Fibonacci low around 996 on the SP Futures before beginning the rally, but it is obvious they are in firm control of this market to insure their own payday to come.
:: Henry Ford ::

1:56 PM
LOOKS LIKE WE COULD BE CLOSE

During the lunch hour we came within 50 cents of closing the gap on the hourly which was close enough to close it on a daily basis/
Could be they just don't want to allow all those buyers/sellers in who have their stops in place just below the gap.
As you can see by the chart, we have formed a nice Bullish Flag and at the same time both the RSI and MACD look like coinfirming bottoms are close. Need to see a turn up on 12Hr RSI after 2PMAnything can and usually does happen in the next 2 hours , so be nimble...

:: Henry Ford ::

12:27 PM
OILS LOOKING BETTER

:: Henry Ford ::

12:02 PM
LUNCHTIME...

Volume has been very light all morning...between now and 2 PM is when the scalpers who brown-bagged it have the ability to push the market around a bit. Usually the time to stay clear of trading, but today this may well give the opportunity for get stops out of the way.
:: Henry Ford ::

11:22 AM
TEASING US HERE
Put Calls firming up around again...came within an eyelash of closing the gap. Playing poker with us now and they hold all the cards.
Volatility if we break 1010 is to be expected. Still no signs that the RSI bottom is in place despite the fact that we have rallied back to 1017.5 in the last few minutes.
:: Henry Ford ::

11:00 AM
GOLD LOOKING INTERESTING AGAIN

Well defined stop and breakout level

:: Henry Ford ::

10:32 AM
WEAKER AS EXPECTED
Since the last update we have gotten the SP as low as 1015, so looks like we are on target to get the gap filled. There will be a ton of stops just below the gap, so volatility should pick up even more if/when they hit it.
Just 11% of NAZ stocks positive from the open now /DOW has only 20 with BA/LUV and EIX leading
:: Henry Ford ::

10:17 AM
MACD IS IN BOTTOM TERRITORY
but 12Hour RSI looks like it needs a couple more hours to confirm cycle low.

NAZ just dropped from 79% positive stocks down to 53% in last 5 minute period.
Still looks like they may go for that 1010 gap on the SPU2 this morning.
:: Henry Ford ::

9:43 AM
INDUSTRY GROUPS
At 9:40 we have 82% of Industry groups positive on the open despite weak start.
Semis, Sofrware lead.

NAZ has 76% positive with ITWO/CHTR/ADCT/SANM/FLEX/IMCL/APOL leading
Still early in the game though.
:: Henry Ford ::

9:30 AM
HERE'S WHAT THE OVERNIGHT SP LOOKED LIKE

:: Henry Ford ::

9:24 AM
GOOD MORNING
Expirations always are fun...SP's went out near flat after being down 6 points in the last hour...
It'll take a while to see true direction this morning...
First indications should be in the 9:50 to 10:10 time frame.
:: Henry Ford ::

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