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Friday, April 6, 2012

Will the Easter Flash Crash Hold Sunday Night?

/ES Futures fell +20 points immediately after the report was released this morning, Friday April 6th, 2012.  I was wrong having expectations for a positive report prior to earnings season. The market is telling us quite clearly we now have a change in bias and clearly a defensive posture must be taken after hitting resistance to multi-year highs. Will today's reaction hold Sunday night until market open Monday morning? Odds are the market will gap down below 3/23's low of 1380.5 at the opening of next session. We shall see...

In Euro news which caught my attention, central bankers there were rumored on possibly not accepting debt as collateral from Portugal, Italy, Ireland, Greece, and Spain - but Germany  quickly reassured such was not the case.


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