Sunday, May 4, 2008

For Monday

We keep making higher highs - the next one has to move boyond the 1420 area.

The volume tells me that buyers keep winning out. The 1400 area should be traded as support - if sellers start accelerating don't take the buy - but if the volume is weak take the trade.

From the TradeMaven Software, Volume Weighted Pivot, Support and Resistance for
5 May:



Upcoming Reports
Monday
ISM Non-Mfg Survey 10:00 ET
4-Week Bill Announcement 11:00ET
3-Month Bill Auction 1:00ET
6-Month Bill Auction 1:00ET

Tuesday
ICSC-UBS Store Sales 7:45 ET
Redbook 8:55 ET
4-Week Bill Auction 1:00ET
Treasury STRIPS 3:00 ET

Wednesday
MBA Purchase Applications 7:00 ET
Productivity and Costs 8:30 ET
Pending Home Sales Index 10:00 ET
EIA Petroleum Status Report 10:30 ET
10-Year Note Auction 1:00ET
Consumer Credit 3:00 ET

Thursday
BOE Announcement 7:00 ET
ECB Announcement 7:45 ET
Jobless Claims 8:30 ET
Wholesale Trade 10:00 ET
EIA Natural Gas Report 10:30 ET
3-Month Bill Announcement 11:00ET
6-Month Bill Announcement 11:00ET
30-Year Bond Auction 1:00ET
Money Supply 4:30 ET

Friday
International Trade 8:30 ET
RBC CASH Index 9:00 ET