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, February 27, 2018
S&P 500 Index: Near-Term Trendline Apex Support Levels
My last post referencing the SPX:VIX ratio offers further details that would corroborate such a downward event...worth monitoring in the days/weeks ahead.
The monthly chart of the SPX below depicts the ATR indicator in histogram format (with an input length of one month). This length of one month illustrates which months made the most volatile moves during the past 20 years. Generally, the ATR spikes have preceded either a period of consolidation or a trend reversal. The spike in this month's ATR is the second highest, with the highest formed by the October 2008 candle. We still have one day left in February's candle, so a higher ATR is still possible (although it seems remote). In any event, this is hinting of further volatility ahead and either a period of consolidation or trend reversal.