We are now trading MARCH contracts for all e-minis, stock indices, financials and CURRENCIES.
FOMC tomorrow and before that more than a few economic numbers.
FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.
if you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.
My observations suggest choppy, low volume up until announcement, followed by some some sharp volatile moves right during and after the announcement. However, with tomorrow early morning reports, we may see more volatility duirng first couple of hours as well.
GOOD TRADING!
Trading Levels
Economics Report Source: http://www.forexfactory.com/calendar.php
Tuesday, December 14th, 2010
– All reports are EST time
Core Retail Sales m/m
8:30am USD
PPI m/m
8:30am USD
Retail Sales m/m
8:30am USD
Core PPI m/m
8:30am USD
Business Inventories m/m
10:00am USD
FOMC Statement
2:15pm USD
Federal Funds Rate
2:15pm USD
Wednesday, December 15th, 2010
Core CPI m/m
8:30am USD
CPI m/m
8:30am USD
Empire State Manufacturing Index
8:30am USD
TIC Long-Term Purchases
9:00am USD
Capacity Utilization Rate
9:15am USD
Industrial Production m/m
9:15am USD
NAHB Housing Market Index
10:00am USD
Crude Oil Inventories
10:30am USD
Thursday, December 16th, 2010
Building Permits
8:30am USD
Unemployment Claims
8:30am USD
Current Account
8:30am USD
Housing Starts
8:30am USD
Philly Fed Manufacturing Index
10:00am USD
Natural Gas Storage
10:30am USD
Friday, December 17th, 2010
CB Leading Index m/m
10:00am USD
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Company, Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!