Any guesses on where the stock market is headed Tuesday?
With the stimulus packaged signed into effect late Friday. The government being carefully evasive. Having the signing within the same 24 hours of the Congress receiving the bill 1100 page bill. The fact that it is not clearly indicated where the stimulus will go and how it affects us.
Is all of this an indication of an up day Tuesday or a down day?
Rick Haines
Rick,
ES futures just opened 7 points lower. What does that indicate for Tuesday is anyones guess. If you think near-term results are dictated by headline news - you are right. That is NOT how a healthy market trades, however so there is much risk for any trade.
In just the past couple of trading days the ES has gone like so: 806 - 824 - 838 - 830 - 823 - 835 - 820 - 813.
"Caveats" apply;)
Gilbert
[LINKSYSTEM_30875056]
Every little bit helps, but there’s nothing “stimulative” about the bill, which is distressing. The stimulus was already expected, and the street is actually waiting on clarification of what to do with the TARP money that appears to have been spent by the receiving institutions. Down is where I’d say week over week will be, but tuesday, flat +/-5 points.
My guess is we will gap down, and rally up higher on the day - I’ll go out on a limb and say 100-200+ points on the dow to close the day on Tuesday.
Just a guess / gut feeling of course. It really depends on how the inside market players react to the stimulus package.
The first 5-15 minutes tomorrow open will answer that question, or give us some direction in any case.
Amusingly Beau puts in +/- either way. He really knows how to hedge his answers. He is either right or wrong either way. 
