The short POTENTIAL trading signal on the Dow Cash is still in play but as I mentioned a few days ago:
Just because I have a signal does NOT mean it is a crystal balll…hence I like to see follow through of price action or what I call price confirmation.
That level for me is now 11898 on the cash. My opinion is that a break below, will increase chances for meanigful correction, until then I would NOT fight the trend or try to predict tops.
Updated CASH DOW JONES chart below:
GOOD TRADING!
TRADING LEVELS!
Economics Report Source: http://www.forexfactory.com/calendar.php
Friday, January 28, 2011
WEF Annual Meetings
ALL DAY USD
Treasury Sec Geithner Speaks
5:00am USD
Advance GDP q/q
8:30am USD
Advance GDP Price Index q/q
8:30am USD
Employment Cost Index q/q
8:30am USD
Revised UoM Consumer Sentiment
9:55am USD
Revised UoM Inflation Expectations
9:55am USD
Saturday, January 29, 2011
WEF Annual Meetings
ALL DAY 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!