Registered: Feb 2009
05-15-09 12:26 PM
Going into todays open we have the following data
Value Area High = 894
Value Area Low = 886.50
Reports scheduled for release include
Core CPI at 5:30am PST
Empire Manufacturing at 5:30am PST
Long Term TIC at 6:00 PST
Capacity Utilization at 6:15 PST
Industrial Production at 6:15 PST
Michigan Sentiment at 6:55 PST
If you look at the economic calendar using either Briefing.com or Forex Factory.com you can see that the Europeans release their information before we do. One can expect that the information they release will reflect continued weakness (as will ours)
At the open of the German (DAX) market we entered a short position on the Globex and will try to hold until the US market opens
As was pointed out previously, we also expect increased volatility due to options expiry. One can look at the Open Interest for QQQQ May Calls & Puts to determine where the battle lines will be for today. Speculators (and institutions) having bought or sold premium will want to move the markets in the direction of some of those strike prices.
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