Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Cannon Trading / E-Futures.com
Lower volume to resume trading after the fourth of July long weekend.
Summer season sometimes have different characteristics than other times of the year. Pay attention to reports and trading volume.
Daily chart of the mini Russell for your review below. I think if market can take out 833.00 we may see a deeper correction, otherwise the path of less resistance will continue to be to the upside.
Daily Mini Russell Chart from July 5, 2011
Economic Reports Wednesday July 6th, 2011
Challenger Job Cuts y/y
ISM Non-Manufacturing PMI
Economics Report Source: http://www.forexfactory.com/calendar.php
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