Watch for Price Action the Day After FOMC, September 22nd 2010
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
FOMC is behind us. Mixed reaction from the market and many times the real direction will show the next day, so tomorrows price action is important to watch. My indicators suggest that as long as we can hold the 1115 level, we still have a shot at more upside move. However a break below 1115 on mini SP along with continued upside in bond market may suggest temporary top. Time and price will tell.
GOOD TRADING!
FUTURES TRADING LEVELS
Futures Trading Levels
This Week’s Calendar from Econoday.Com
All reports are EST time
Another great source for economic reports around the globe with “report importance indicator” at: http://www.forexfactory.com/calendar.php
Wednesday, September 22nd 2010 – http://mam.econoday.com/byweek.asp?cust=mam
- MBA Purchase Applications
7:00 AM ET - FHFA House Price Index
10:00 AM ET - EIA Petroleum Status Report
10:30 AM ET
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Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results. This is not a solicitation of any order to buy or sell, but a current futures 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!
