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.
Sunday, October 14, 2012
Top-Down View of the S&P 100 Index
The close-up view on the Daily (fourth) chart shows that, not only has price broken below an intersecting uptrend and downtrend support level, but there are also trend breaks on the Stochastics, MACD, and RSI indicators after negative divergences formed in relation to a triple top on price. What was support has now become resistance. If it holds, we'll see further selling, likely to the lower trendline (which is roughly in line with the 200 sma), or lower. I'll be monitoring these indicators on the Weekly timeframe to see when they reach an oversold status to check where price is relative to the Daily 200 sma and lower trendline, and when any positive divergences begin to form.