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The market is currently testing near the 918.75 area, which is just above a support range. The 2009 open at 903 of the S&P 500 Index is also a key support number.
We have the FOMC Meeting Minutes tomorrow afternoon, and the Employment Situation on Friday morning.
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Above is the 0930 to 0945 ET time frame for the past month of the ES Futures with the 22-day Volume and Range Average. I can now advance from one 15-minute segment to the next throughout the day and check volume and range for each segment as the day progresses.
The last above average down day in the first 15-minutes of trading was 12/01/08, and the last above volume up day was 12/12/08.
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Above is the 12/01/08 above average down day in the first 15-minutes of trading. The market could only give 38% corrections throughout the day as it trended down.
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Above is the above average up day in the first 15-minutes of trading. The market gave us a series of 50% corrections as it trended upwards.
Charles
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