UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Oct. 20 @ 2:00 pm ET - Beige Book Report
* Tues. Oct. 26 @ 10:00 am ET - CB Consumer Confidence
* Fri. Oct. 29 @ 8:30 am ET - Core PCE Price Index m/m Data
* Wed. Nov. 3 @ 2:00 pm ET - FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Nov. 5 @ 8:30 am ET - Employment Data
* Tues. Nov. 9 @ 8:30 am ET - PPI m/m & Core PPI m/m Data
* Wed. Nov. 10 @ 8:30 am ET - CPI m/m & Core CPI m/m Data
* Fri. Nov. 12 @ 10:00 am ET - Prelim. UoM Consumer Sentiment
* Fri. Nov. 12 @ 10:00 am ET - Prelim. UoM Inflation Expectations
* Tues. Nov. 16 @ 8:30 am ET - Retail Sales & Core Retail Sales Data
* Wed. Nov. 24 @ 2:00 pm ET - FOMC Meeting Minutes
*** CLICK HERE for link to Economic Calendars for all upcoming events.
Saturday, June 04, 2011
The Really Big Picture...YM, ES, NQ & TF...
As can be noted, a retracement of 23.6% (taken from the March 2009 lows to the May 2011 highs) would fall in between a 38.2-50% retracement (taken from the July 2010 lows to the May 2011 highs)...forming a Fibonacci confluence zone. At the moment, this 23.6% level roughly co-incides with the rising 50sma (red).
A 23.6% Fib retracement would result in an approximate 12% correction for YM & ES, 14% for NQ, and 14.4% for TF from the May 2011 highs to the following price levels:
YM = 11360
ES = 1206.25
NQ = 2095
TF = 746.80