Tuesday, October 27, 2009

ES Emini Futures Morning Review 10/27/09




Well, we got through the European close and stayed within a narrow range. Most of the mornings activity stayed within yesterday's Value Area.

When you see a drop like the one that occurred after the release of the Consumer Confidence Report, it is hard to believe that the market will stay in a narrow range. But it did.

Charles

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2 comments:

  1. UnknownDecember 1, 2009 at 1:00 PM

    Kailash said,

    I checked the chart on the ES on October 27, the drop occurred at 10 AM and the Consumer Confidence report was at 9 AM EST.

    Charles, can you help me understand this delay in market behavior? The only report I saw at 10 AM was Bank of Canada Governor statement.

    I am backtesting a strategy where I don't take a trade just before a report but not sure about the 10 AM drop?

    Thanks for your help.

    Kailash

    ReplyDelete
  2. Charles A PennisonDecember 1, 2009 at 2:26 PM

    Hi Kailash,

    The Consumer Confidence report came out at 1000 ET not 0900 ET.

    Charles

    ReplyDelete

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