Futures Trading Levels, Volatility After S&P News
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Cannon Trading / E-Futures.com
We witnessed some volatility in the markets today after SP comments “downgrade of US debt”. I think volatility is here to stay for a while longer…..
Below you will see a daily chart of SP500 with possible levels of support and resistance. I think if the late session bounce stays below 1304 to 1313, then we can resume the developing short term down trend with next targets at 1279 and 1266. Wishing you good trading rest of the week!
GOOD TRADING!
Daily E-Mini S&P 500 futures trading chart screenshot from today April 18th 2011
TRADING LEVELS!
Economic Reports Tuesday April 19, 2011
Building Permits
8:30am USD
Housing Starts
8:30am USD
Economics Report Source: http://www.forexfactory.com/calendar.php
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!
