10-8-12 NQ premarket

Oscar is neutral.

US INDICES (ES, NQU2012) September 2012
Posted: 08/09/12 21:55 OST/EST
For Trade Date: 08/10/12

OMNIACS,

The Indices are a mixed bag of signals this evening. The leaders are clearly pointing towards a down day. The followers say no way. Usually they are much more in sync with one another. With this in mind we will await a bit before following this market in any direction. My personal analysis calls for a drop on Friday, however my personal opinion is about as useful as Obama has proved to be in the past 4 years. Lets do without the opinion and allow the market to lead us in. I will issue a Flash update as we approach the OMNI entry levels

daily chart
=============
At top of the up channel. May break out, which we can long @ 2730.
Or it may retrace. Safe area to long is 2600, lower support channel.

60min chart
============
Long @ 2730 (same as Daily)
or long @ 2700.

15min chart
===========
long @ 2730 (same as Daily and 60min)
short @ 2700

Setup
=====
Long @ 2730
short@ 2690

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