S&P: Massive hammer candle as we thrash around between two trendlines..Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle

 


S&P SHORT TERM TRADER: Covered my position at exactly 2620 pocketing some rather welcome cash.

S&P POSITION TAKER: Will sell on a weekly close below 2600.

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CME had to halt S&P futures tradingRush to sell after Wednesday’s holiday

CNBC reports that in a written statement the Chicago Mercantile Exchange noted: ‘our equity index futures markets [were] paused intermittently following this evening’s open due to volatility, which triggered more than 40 Velocity Logic events in the first six minutes of trading.’ Speculation as to why the volume was so large – Nomura Securities believes it was 36,700 contracts in the S&P 500 futures in the first 10 minutes – was blamed on a large fund off funds liquidating a position.

Some 32 million O2 mobile phone customers in the UK saw their services cutoff for the best part of 24 hours yesterday; Softbank customers in Japan also suffered a roughly 4-hour outage, as did other UK providers who use 02’splatform. The fault is said to lie with Ericsson’s hardware which both companies use. Rather frighteningly, the sector is dominated by giants Ericsson, Huawei, and Nokia. The gig economy went into meltdown as customers couldn’t use the apps that they depend on.

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