Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
I have been talking and sharing potential short based on the Dow Jones CASH for a few days. Well this short got triggered this morning and signaled a wide sell off in stock indices. I have included a chart of mini Dow Jones futures with different levels to watch for. Pay attention to the red moving avg. that has held this recent rally for few good weeks now.
We closed right against it.
With recent global geo political unrest, I suspect volatility will increase quite a bit.
Understand that the DAYTRADING environment you may facing ahead is much different than what you have seen last few weeks. Adjust your mental approach, money management, stops and everything that has to do with money management and trade management accordingly!!
Economics Report Source: http://www.forexfactory.com/calendar.php
Sunday, January 30, 2011
WEF Annual Meetings
ALL DAY USD
Monday, January 31, 2011
Core PCE Price Index m/m
Personal Spending m/m
Personal Income m/m
Treasury Currency Report
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!