Wednesday, March 19, 2008

Stick with the trend

The pullback today in the eMini S&P and other equity indexes was not a big surprise given the skittish outlook on the markets in the news. This indicates to me that the overall trend will continue its downward moves. Sell the rallies against the numbers -

Reports:
Jobless Claims 8:30 ET
Leading Indicators 10:00 ET
Philadelphia Fed Survey 10:00 ET

Nothing huge report wise tomorrow, but the reports do have an effect on the markets - I can't believe any will support prices, they will only confirm the downtrend

From the TradeMaven Software, Pivot Support and Resistance for 20 Mar: