Quick thoughts on $ES_F

Brokers came in this morning and bought a decent amount in the pit.  I put some credence in that they bought them but that information I file away.  What is more interesting is that they worked many big orders.  Normally the brokers will try to hide it.  It means someone really wanted those prices or wanted to know that we knew.  What else is interesting is that they waited to buy that break.  Longer term 1293-1295 will be an area I look at.

We look at the relationships in many markets.  Today it is all over the map.  Nasdaq is strong, transports are weak, Euro and Dow at resistance.  Just a weird day.  Looking for the S&P and transports to catch up, if they can.

Below in the S&P we have the gap and single ticks (1291.75 to 1292.50).

Update. The Nasdaq finally failed, we broke.  The bonds were also instrumental in leading to the downside.  Lets see if any of these relationships hold up for longer than a day but initially I will be looking at them.  Would like to see the S&P 500 lead at some point.  Right now it is the guy on the couch that doesn’t do the dishes.

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