Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
A new month starting and below you will see my WEEKLY chart for the mini SP. I have sell set up in this market as well and if the short side pick speed, I would look for around 1230 and 1186 within the next few weeks. If i am wrong and the market breaks above 1300, I would play defense and wait for the next set up.
I wish you all a great trading month in February.
Economics Report Source: http://www.forexfactory.com/calendar.php
Tuesday, February 1, 2011
ISM Manufacturing PMI
Construction Spending m/m
ISM Manufacturing Prices
Total Vehicle Sales
Loan Officer Survey
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!