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.
Thursday, November 17, 2011
Major Indices re-visit August 4th/5th levels...
Below are a series of Daily charts of these 4 indices with relevant support and resistance levels marked on them...the S&P broke and closed below a major support level of 1220 today, with an impressive move and close below near-term support of 2300 on the Nasdaq...two to watch.
Price has wandered back down to levels seen around August 4th (the day before the U.S. credit rating downgrade by Standard & Poor's) on all these indices...and, in fact, down to the August 5th levels on the Russell 2000.
This tells me that these markets have not yet resolved this downgrade issue, and they are subject to further weakness until they do, and until the bulls commit to buying on convincing volumes.