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, March 29, 2015
Forecasting the S&P 500 E-mini Futures Index...My Dumb Luck?
The following Daily chart of the ES (S&P 500 E-mini Futures Index) shows what happened from that date up to the present. The ensuing swings overshot my projected targets a bit, and it took a bit longer for the "FROTH" level around 2100 to be reached, but price action generally followed the path that I forecast a year ago...price has been consolidating, basically, below that level since December 2014. Additionally, volatility did become the "name of the game" over those weeks and months, as I had anticipated.
As can be seen on the next Daily chart of the ES, 2100 represents a double Fibonacci confluence major resistance level that will have to be solidly overcome and held before bulls can resume any kind of sustainable uptrend. A break and hold below 1992 could see bears take the ES down to 1813, or lower. Until we see a solid break one way or the other, I expect volatile swings to continue in both directions to plague both the bulls and the bears.