European futures have taken out Bail Out levels completely

Published 31 October, 2011, 10:21, CEST+1 | By the trader

Futures are still trading, despite the Cash markets closed, and going lower. The European Stoxx and Dax futures have now taken out the Bail Out levels completely, just as we suggested in early European Trading. We believe the market has made the Top we have been waiting for, and the psychological set up is very interesting. A nasty correction is around the corner. Both Bulls and Bears have been run over, and the latest rally shook out the last bears, and attracted many new momos. MF Global imploding, Greece basically pulling the plug, are all ingredients for the dynamics to continue playing out. Below some “after hours” chart updates.

SPX “falling out” soon?

European futures below.

Stoxx 50 filled the Gap.

Posted in Uncategorized | Tagged Correction, DAX, Greece, MF Global, Stoxx

3 Responses to European futures have taken out Bail Out levels completely

paul skinner says:

31 October, 2011, 11:09, CEST+1 at 11:09

This market is TOAST! The biggest ‘sucker rally’ in history has run its course!

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Hobo says:

1 November, 2011, 01:14, CEST+1 at 01:14

I agree, but a lot of “smart” money thought the same 10 days ago

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Be short says:

1 November, 2011, 05:37, CEST+1 at 05:37

It’s all about burning the smart money. Who was short yesterday? Exactly – maybe you and I. But not the masses.

As long as the volatility remains high and the moves are long, I am very happy. Easy to trade

Good luck everybody.

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