The Rally Monday morning was expected given the pre-Regular Trading Hours favoring higher prices. Credit issues still drags the the outlook of the ecomony for the next several months.
Pending Home Sales will be a bearish number I believe, however the FOMC minutes will be released early tomorrow afternoon.
Thill then look for the volume to develop to the downside and sel the low volume rallies.
From the TradeMaven Software, Pivot/Support and Resistance Numbers for 8 April:
Upcoming Key Reports:
Tuesday
Pending Home Sales Index 10:00 ET
FOMC Minutes 2:00 ET
Wednesday
Wholesale Trade 10:00 ET
EIA Petroleum Status Report 10:30 ET
Thursday
International Trade 8:30 ET
Jobless Claims 8:30 ET
Treasury Budget 2:00 ET
Friday
Import and Export Prices 8:30 ET
Consumer Sentiment (p) 10:00 ET
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.
