Your MUST-READ Morning Stock Futures Cheat Sheet: Ho hum

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The Precise Take – Ho hum

Big Picture Analysis:  All in all, there was not much new information released in the two speeches yesterday, and traders decided to sell the risk markets on both.  However, the bulls will not have thrown in the towel yet unless the 1160 area goes (basis Dec11 ES).  Abigail Dolittle, of Peak Theories, offers three scenarios in her weekly missive today, which are worth noting.  Ahead of the September 21 FOMC Announcement, the major economic releases cluster next Wednesday and Thursday with PPI, Retail Sales, CPI and the Philly Fed Survey.  As it will be opex week, this will be prime time for a reversal of any short term trend that might be underway.  Headline risk should ease from the US, but still exists from Europe, as wrangling over the EFSF could easily proceed into October.

Trading Today:   Below are marked the support and resistance areas.  We have rolled over into the December 2011 contract.

Today’s  Scheduled News (all times EDT)

Major Market Movers
None

Minor Market Movers
Wholesale Trade at 10:00 am

Tomorrow’s Scheduled News

Major Market Movers
None

Minor Market Movers
3 Yr Note Auction at 1:00 pm


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