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.
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.
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.
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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