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The charts and comments in my Blog (posted in Eastern Time) represent my technical analysis and observations of a variety of markets...
*World Indices *U.S. Indices *Futures *U.S. Equities & Sectors *ETFs *Commodities *Forex
...an expanded version of the "Observations" section in my private Daily Trading Journal.

*** N.B. to my readers: Although I stopped trading in July 2013, I still take a peek at the markets now and then and post the occasional article here on my Blog.

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EVENTS

UPCOMING ECONOMIC EVENTS...
* Mon. May 25 ~ U.S. Holiday: Memorial Day...markets closed
* Fri. May 29 @ 8:30 am ET ~ GDP + last trading day of the month
* Wed. June 3 @ 2:00 pm ET ~ Beige Book
* Tues. June 16 ~ 2-Day FOMC Meeting begins
* Wed. June 17 @ 2:00 pm ET ~ FOMC Meeting Announcement + 2:30 pm ~ Fed Chair Press Conference + FOMC Forecasts

Tuesday, May 17, 2011

A Brief Comment Tonight on the TF...

The April-June 2nd Quarter Pivot Point for the TF is 817.50...this level was tested repeatedly overnight and today. This level may prove to be pivotal in either a reversal or a continuation of recent weakness. This level held when tested several times in mid-April...today's low pierced below the lowest low that was set during that time period and has now created a lower low on the Daily timeframe...however, today's candle closed at 821.30 (and above the 2nd Quarter PP). It will be interesting to see whether the TF can hold above this PP and then make it back above the Daily 50sma (currently at 828.20). I'll be watching price relative to volumes and momentum on an intraday basis in relation to these two levels as well as to today's close.