For Wednesday:
Interesting market action... Slips in prices in the eMini S&Ps and eMini Russell both done on low volume and in the case of the S&Ps LOWER Open Interest - all signs of an unhealthy, and therefor unsustainable, bear move. Market is clearly poised for Unemployment Situation on Friday as a huge indicator of what the Fed will do on the 11th. In the meantime trade the range - just be careful of the powerful volume-backed drives - DO NOT fade these! Market Profile will help identify these.
And speaking of Market Profile...Wednesday after the close, 4:30 ET (3:30 Central), Charlie Cochran of TradeMaven Inside Edge will be giving a free seminar on the use of Market Profile in the TradeMaven Software. Come see how Market Profile can be used to find areas of value and trade location in the markets.
join us Wednesday, Dec 5th at www.trademaven.omnovia.com/tmaven
This is a FREE seminar open to all. No password is necessary.
Wednesday Reports:
MBA Purchase Applications - 7am ET
Challenger Job-Cut - 7:30am ET
ADP Employment - 8:15am ET
Productivity and Costs - 8:30am ET
Factory Orders - 10am ET
ISM Non-Manufacturing Survey - 10am ET
Pending Home Sales - 10am ET
Volume Weighted Support and Resistance Numbers for Wednesday, Dec 5th:
What is Inside Edge?
A comprehensive trader’s education forum focused on e-Mini S&Ps and U.S. Treasury Bond Futures. TradeMaven’s Inside Edge features the necessary analytics and execution information in one place to speed up your decision process, keep you on the right side of the market, and eliminate so much of the noise that surrounds trading today. This unique forum is the brainchild of Charles Cochran – a trading pro who has spent the last 15 years fine-tuning a proven methodology that eliminates extraneous information and concentrates on the market activity that matters: the market activity that foretells the market's next move.
