Mar

17

On January 22, 2008, after a plunge to the 1255 area while U.S. markets were closed for the Martin Luther King holiday, the (March) S&P 500 futures opened in the pit at 1262.0, which stood as the pit-traded low of the day. The close was 1309.0. Today's pit open of 1260.5 after an overnight plunge to 1255 is still the low, but appears in imminent danger of being taken out, despite a 26-point rally from the open.

Kim Zussman adds:

Soon we could have enough rallies off huge down opens to start wondering when the streak will end.  Like playing chicken when you don't know that the opponent might be suicidal.


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  1. Anatoly Veltman on March 17, 2008 1:42 pm

    Suppose no collapse within today's session — would that be any indicator for tomorrow, or the day after?

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