FOMC tomorrow around 2:15 Eastern time. Even before that we will start the day with some important housing 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. I am including 5 minutes chart from August 10th of this year, which was the last FOMC we had for your reference. GOOD TRADING!
FUTURES TRADING LEVELS
This Week’s Calendar from Econoday.Com All reports are EST time Another great source for economic reports around the globe with “report importance indicator” at: http://www.forexfactory.com/calendar.php Tuesday, September 21st 2010 – http://mam.econoday.com/byweek.asp?cust=mam
- ICSC-Goldman Store Sales 7:45 AM ET
- Housing Starts 8:30 AM ET
- Redbook 8:55 AM ET
- 4-Week Bill Auction 11:30 AM ET
- 52-Week Bill Auction 11:30 AM ET
- FOMC Meeting Announcement 2:15 PM ET
Disclaimer: Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results. This is not a solicitation of any order to buy or sell, but a current futures market view provided by Cannon Trading 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!