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Futures Trading Levels, The FIB Retractment Level is the Pivot of Corrections

Cannon Trading /

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

Stock futures trading chart levels Thursday March 24th 2011


Commodity Futures trading levels March 24th, 2011

Economic Reports Thursday March 24, 2011

FOMC Member Kocherlakota Speaks
5:00am USD

FOMC Member Fisher Speaks
7:30am USD

Final GDP q/q
8:30am USD

Final GDP Price Index q/q
8:30am USD

Revised UoM Consumer Sentiment
9:55am USD

Revised UoM Inflation Expectations
9:55am USD

FOMC Member Plosser Speaks
12:15pm USD

Economics Report Source:

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading 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!

Tags: > > > Posted in: Future Trading News   | Futures Trading  

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