10.07.13 Gov’t Shutdown Continues…”DefCon-2″

As the Gov’t Shutdown continues and enters its next escalation stage, the Markets are getting a bit more edgy, but no real panic. Should the stalemate enter “DefCon-3” then markets may respond more negatively.

Overnight trade as of this update (8:45am) e-mini is down 14 handles testing Friday’s lows at 1667.50. Violation and hold below this level targets 1662, then 1656.

Initial resistance is 1678…Penetration and hold above this level targets 1681 – 83 zone, then 1686.00.

News flow algorithms are on “full alert” now, so make sure on any open positions stop-loss orders are firmly on the order-book.

Good Trading…David

Habitude Eleven
I am courageous and I always act, even in the face of uncertainty and possible loss. Do not say, no fear. Feel the fear and act anyway. I may be frightened, but I still saddle up. I am not reckless. I act promptly in accordance with my methodology. I respect my calculations. I have a healthy respect and I balance that respect with my courage. I am an explorer. I am on a hero’s journey.