Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Cannon Trading / E-Futures.com
Big push up today on stocks but less than average volume.
Daily chart below of the mini SP 500 shows that 1310.50 is the 76.4% FIB retractment level, which I have noticed many times to be the pivot of corrections. So price action around this level will be important to watch. A break below 1297 may suggest that this bounce is just a bounce….Futures will tell…..and in our business the future is some times measures in hours, minutes even seconds….
Daily E-Mini S&P 500 futures trading chart screenshot from today March 24th 2011
Economic Reports Thursday March 24, 2011
FOMC Member Kocherlakota Speaks
FOMC Member Fisher Speaks
Final GDP q/q
Final GDP Price Index q/q
Revised UoM Consumer Sentiment
Revised UoM Inflation Expectations
FOMC Member Plosser Speaks
Economics Report Source: http://www.forexfactory.com/calendar.php
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