Will Stock Index Futures Upside Momentum Continue?

“We are Trading Right Against a Major Retracement Level at 1106.50”

I mentioned a couple of days ago that this morning report will determine if we can reach the 1100’s on the SP. Well the answer turned out to be YES. As always in the futures business the current question of what’s next is more important than the previous one….

Well we are trading right against a major retracement level at 1106.50.

As long as pull backs do NOT break 1093, my bias is to the upside. Tuesday should be interesting as we should get an indication if the upside momentum has more legs or not.

Until then, enjoy the long weekend, recharge. Keep in mind the regular session is closed Monday but there is a night session Sunday night and Monday night. More info below.

SP 500 Day Trading

Holiday schedule at:
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https://www.cannontrading.com/community/newsletter/
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GOOD TRADING!

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

Tuesday, September 7th 2010 – http://mam.econoday.com/byweek.asp?cust=mam

• 4-Week Bill Announcement
  11:00 AM ET
• 3-Month Bill Auction
  11:30 AM ET
• 6-Month Bill Auction
  11:30 AM ET
• 3-Yr Note Auction
  1:00 PM ET
• Treasury STRIPS
  3:00 PM ET

Disclaimer:
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!