Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
The market feels to me as if it is either ready to pick up some more momentum to the downside or that this small correction ran its course and the trend up will resume….
I am looking at the following levels and price behavior around these levels to give me more clues as to which way the next move will be.
1206 on the way up (Dec. Mini SP 500) and 1189 on the way down.
Hourly chart FYI below:
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, November 16th 2010 – http://mam.econoday.com/byweek.asp?cust=mam
ICSC-Goldman Store Sales
7:45 AM ET
Producer Price Index
8:30 AM ET
8:55 AM ET
Treasury International Capital
9:00 AM ET
9:15 AM ET
Housing Market Index
10:00 AM ET
4-Week Bill Auction
11:30 AM ET
52-Week Bill Auction
11:30 AM ET
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!