Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
“The Dow Jones Average is leading the way”
Market made recent highs overnight, backed down and managed to close unchanged.
I think with this recent move, it is the Dow Jones average which is leading the way.
Below is a daily chart of the mini Dow Jones futures along with some Fibonacci levels.
My speculation is that an hourly close during the day session tomorrow above 10520 can trigger 10760,
on the flip side, an hourly close below 10435 can bring 10320 much closer.
This Week’s Calendar from Econoday.Com
All reports are EST time
Wednesday July 28th – http://mam.econoday.com/byweek.asp?cust=mam
- MBA Purchase Applications – 7:00 AM ET
- Durable Goods Orders – 8:30 AM ET
- EIA Petroleum Status Report – 10:30 AM ET
- 5-Yr Note Auction – 1:00 PM ET
- Beige Book – 2:00 PM ET
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