The FOMC announcement at 2:00 p.m. ET for the September 17-18 FOMC policy meeting is expected to leave policy rates unchanged but focus on whether bond purchases will be cut back sooner or later and how fast. Also, the Fed … Continue reading
Yesterday’s “jumping the creek” price action tested highs at 1703 only to be rejected as price retraced back to 1688 handle which we highlighted live in Trading Room as potential dynamic support. Overnight trade continues to hold the 1688 handle … Continue reading
Equity Markets in have reacted positively to weekend news release that Larry Summers has withdrawn from consideration for next Fed Chief. A price gap in Globex Session is what is known as “Jumping the Creek” leaving a void in price … Continue reading
Quiet overnight trade action in Globex Session…So the key levels that we highlighted in yesterday’s strategy blog remain valid today. Let’s review those…September (U) Contract. Pivot high zone 1688 – 90 is key hurdle for bulls…Penetration of this zone and … Continue reading
Today marks the beginning of Contract Rollover to December (Z) from September (U)…So winter is coming!..We will be trading Sept. (U) through Friday this week and begin trading Dec. (Z) Monday. All levels mentioned are for Sept. (U) Contract. Initial … Continue reading
Today is the all important Non-Farm Payroll number…Expectation is for 180K v 162K and Unemployment Rate (Aug) M / M to remain steady 7.4%. Markets will be looking for the Feds “read-through” regarding timing of QE Taper. S&P has rallied … Continue reading
Despite the Labor Holiday rally, S&P could not hold onto it’s early gains Tuesday and dropped back into Friday’s range where it did find support at 1632.00 “marker.” Late day bounce from that level settled price near VTMP balance 1640.00. … Continue reading
Labor Day Holiday was quiet with no military action in Middle East…Markets have breathed a sigh of relief rallying in shortened holiday action. As Money Managers come back from vacation they will be faced with decisions on whether to buy … Continue reading
Pre-Holiday (Labor Day) trade is anticipated to be relatively quiet…Continued unrest in Middle East will keep most traders/investors from initialing any new positions and existing positions will be pared ahead of long holiday weekend. Key Resistance continues to be 1642 … Continue reading
Yesterday SnP had a short lived recovery bounce which pushed price back to prior day open range 1636 – 39 which was anticipated supply zone. Failed attempt to expand beyond that zone creates today’s resistance marker. IF 1639.00 is penetrated … Continue reading