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.
Tuesday, July 10, 2012
The "50s" on the Major Indices and Major Sectors
If price cannot hold above this level on these e-mini futures indices, they are in danger of dropping down to or below the June lows.
Correlated with these are the Daily charts of the 4 Major Indices, to which I referred in my post of July 6th. Price has come down to a confluence support level of the mid-Bollinger Band and the 50 sma (red) on the Dow 30, S&P 500, and Nasdaq 100, so far.
Weakness below this level can send these indices down to their next confluence support at their lower Bollinger Band and 200 sma (pink), or possibly down to or below their June lows. The (potentially imminent) formation of a bearish moving average "Death Cross" on, firstly, the Russell 2000, then the others would likely send these indices to new lows for the year.
Finally, any attempts by the bulls to push the 9 Major Sectors higher have failed miserably, so far, this week, as shown on the Daily charts below, as many of them are waging a battle around their 50 sma and mid-Bollinger Band...showing across-the-board weakness this week...worth keeping an eye on these, since a break and hold below their prior swing low could send these to new lows for the year.