It’s been a long time since I’ve seen the /ES not move by a single tick for this long. I think all you late-night traders might as well just hang it up until 8:30 a.m. EST. People seem to be frozen stiff until then.
In the meantime, here’s an amazing graph submitted by a Sloper showing the looming adjustments to be made on mortgages (e.g. cranking up required payments from those least able to afford them). Between this tidal wave of impossible-to-meet payments and the eventual termination of the artificial “moratorium” on foreclosures, one can only imagine how much water is going to come crashing through the canyon once the dam breaks.
One thing you can count on: at 8:30 a.m. EST Friday, things are going to get very interesting! I already know, for me, it’s either going to be a very good day or a very bad day. I am pretty sure that I’m going to go long the /ES in a big way before the announcement because I *cannot* be totally short and have a surprise. But I think I’m going to hold off until shortly before the announcement. Any thoughts and opinions on that tactic?