The market is currently above the (H+L+C)/3 pivots, which are 819.75 using 24 hr Globex data or 821.5 using day session data. The market is also currently within the trading range of Friday's last hour of trading, which usually sees the results of hedge fund and mutual fund redemptions or asset accumulations.
We get a FOMC announcement this Wednesday, Consumer Confidence tomorrow, and Consumer Sentiment on Friday.
The 10-day average smallest distance that the market travels from the 0930 ET open is 5.5 points, and the 10-day average largest distance that the market travels from the 0930 ET open is 24 points.
844 and 797.5 are two key points to watch as the market possibly attempts to form a bottom.
Charles
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