from the trading desk of CFRN...
This morning the SP Emini market labored after mixed economic results. Industrial Production and Capacity Utilization missed analyst expectations and disappointed however the NAHB Housing Market Index shined climbing in October, its first rise in five months. Once the market filtered out the economic data the SP Emini finally received a boost from Citigroup earnings. Better than expected results pushed the financial stocks higher and the SP Emini into one of the Weekly CFRN Trading Zones or 1182/1183 level. The CFRN Weekly Trading Zones were well represented today, in the SP Emini the 1165/1166 level was near the session low and the 1182/1183 was today’s hi. The late sell off was profit taking ahead of IBM and Apple earnings and will create some volatility overnight.
|S&P 500 Emini Futures / ES / Weekly Trading Zones / Blow It Up|
Our Weekly Trading Zones are emailed to members prior to the open every Monday. Become a Member!
Trading is not easy, but it can be simple.