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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (7400)	8/7/2019 10:19:20 AM
From: Winfastorlose	1 Recommendation Recommended By berniel Read Replies (2) \| Respond to of 26758

The problem is that the overnight low in the ES futures on Monday was never tested here in the USA. This low has been left to the exclusive domain of the Asian markets. Over 90% of the time, highs and lows in the S&P futures will occur here in the US market. In other words, the ground has not been trampled upon here. And since the S&P is all about our market, that is unacceptable BECAUSE OF ALL OF THE DERIVATIVES THAT TRADE AGAINST THOSE NUMBERS. Now today's action has taken us a little closer to the lows and maybe that will be enough, but I'm still not convinced. I do however, think those lows will suffice as long as the US market gets to visit them in some approximate fashion. They occurred at an important Fib number as well.