Tuesday, April 22, 2008

For Wednesday

Earnings Reports are the primary movers of the eMini S&P for short term traders.
That's fundamental analysis, the news reports hit the wire to spark scalpers - but don't follow it. A major move to 1400 will be done only on exhaustion buying volume.
So far buyers can only bring the market back up to the pivot. The Sellers then take over.

The heaviest ares for trading have dropped steadily since Friday - I'll stick with that bias.

From the TradeMaven Software, Volume Weighted Pivot - Support - Resistance Numbers for 23 April:


Upcoming Reports:
Wednesday:
EIA Petroleum Status Report 10:30 ET

Thursday:
Durable Goods Orders 8:30 ET
Jobless Claims 8:30 ET
Help Wanted Index 10:00 ET
New Home Sales 10:00 ET
EIA Natural Gas Report 10:30 ET

Friday
Consumer Sentiment 10:00 ET