UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Sept. 22 @ 2:00 pm ET - FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Oct. 1 @ 8:30 am ET - Core PCE Price Index m/m Data
* Fri. Oct. 8 @ 8:30 am ET - Employment Data
* Wed. Oct. 13 @ 8:30 am ET - CPI m/m & Core CPI m/m Data
* Wed. Oct. 13 @ 2:00 pm ET - FOMC Meeting Minutes
* Thurs. Oct. 14 @ 8:30 am ET - PPI m/m & Core PPI m/m Data
* Fri. Oct. 15 @ 8:30 am ET - Retail Sales & Core Retail Sales Data
* Fri. Oct. 15 @ 10:00 am ET - Prelim. UoM Consumer Sentiment
* Fri. Oct. 15 @ 10:00 am ET - Prelim. UoM Inflation Expectations
* Wed. Oct. 20 @ 2:00 pm ET - Beige Book Report
*** CLICK HERE for link to Economic Calendars for all upcoming events.
Friday, November 18, 2011
How the YM, ES, NQ & TF closed out the Oct-Nov OPEX Period
Below is a Weekly chartgrid of these four markets. Only the YM closed above the middle of the Bollinger Band...however, they all closed below their 50 sma (red) on a decidedly bearish note.
Below is a Daily chart of these four markets. Each one closed below the middle Bolling Band...the NQ closed below the 50 sma (red)...they basically low-based on low volume today after their large drop yesterday.
None of these charts is signalling a rise next week...however, we may see a bounce into the Thanksgiving holiday, if for no other reason than some short-covering during this shortened week. Any long-lasting bounce really must occur on increased volumes to signal bullish conviction...otherwise, I'd look for more volatile range trading within either of the last two OPEX candle's ranges.
Also, please see yesterday's post regarding an unresolved issue...which confirms what I've just said.