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, October 08, 2011
The Battle at the "50 Yard Line"...
As can be seen, the YM, ES & TF closed, once again, below the falling 50 sma (red), while the NQ closed just above for the second day in a row. At the moment, the 50 sma seems to hold the key and would be an important level for the bulls to recapture if they wish to reverse this bear pattern. Whether or not technology can lead the bulls back to happier hunting grounds with a series of higher-highs and higher-lows and score a touchdown remains to be seen. At the moment, they're all still putting in lower-highs and lower-lows. Furthermore, the VIX closed at 36.20 and is still, for the moment, above the 35.50 level that I mentioned on Friday.
In conclusion, I'll be watching the action around the 50 sma on the Daily charts of the 4 e-minis, the performance of the NQ compared with the others, as well as the 35.50 level on the VIX in the coming days/ weeks.