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!
Daily E-Mini S&P 500 futures trading chart screenshot from today April 18th 2011
Economic Reports Tuesday April 19, 2011
Economics Report Source: http://www.forexfactory.com/calendar.php
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