Greetings!
I have been away for a few days, hence the reason you may have not gotten the daily update since Wednesday.
The market looks pretty strong to me and if I see a close above 953 on the hourly chart (953 on the futures contract and 956 on the cash index), I would feel more confident about further gains over the next few days. Another failure against this level can trigger a pull back to 928. So these are the two sides of the coin as I see it and obviously one can trade the same analysis in different ways.
Daily chart of cash SP below.
Main thing is to have an idea of what you are looking to do, plan how to do it and then execute the trade.
Good trading.
Futures Trading Levels for July 21, 2009
Economic Reports for July 21, 2009
Economic
9:00am BoC rate decision
4:30pm API Crude Oil/Gasoline/Distillate Inventories
Events
10:00am Fed Chairman Bernanke testifies on monetary policy before Congress. NRG Annual Meeting. ICSC/UBSW Chain Store Sales (7:45, last -0.9%). Redbook Retail Sales (8:55, last -5.7%). ABC Consumer Confidence (last -51). Trades Ex-dividend: CVS $0.076, AMN $0.30, DLM $0.05, AMX $0.448.
Earnings
Before the Open: AKS, ARB, ALV, BJS, BLK, BEAT, CAT, KO, CMA, CAL, DD, ELN, FCFS, FRX, FCX, HCBK, ITW, JEF, JRN, KCI, LAB, LXK, LMT, MRK, MICC, NEOG, EDU, ORB, PCAR, BTU, PNR, PCP, DGX, RF, SGP, SHW, LUV, STT, AMTD, UAUA, UTX, UNH, WU. After the Close: AAN, AMD, ALGT, AMLN, AAPL, ATHR, BXP, CHRW, CRI, CHIC, CNH, EPIQ, FULT, GILD, HBHC, IBKC, ILMN, INFN, LLTC, MANH, MRTN, NBR, PTV, PNFP, PTP, PPDI, QLGC, RCRC, RHI, STX, SLM, SFG, SBUX, STLD, SYK, SUPX, VFC, VOCS, WCN, WSII, YHOO.
