S&P 500 Futures Market Update 3/18/09
Yesterday , the S&P 500 displayed fairly 2 sided range bound behavior only to break out above the UVA and continue its trend long nature to the close. This market behavior was quite unique for a pre-FOMC and mid options expiration week which usually sees the market close unchanged. Today is FOMC Rate Announcement day and it should bring nice volitility right after the announcement.
| Upcoming Financial News Announcements: | |
| 7:00 AM EST | MBA Purchase Applications |
| 8:30 AM EST | Consumer Price Index |
| Current Account | |
| 10:30 | Oil Inventory Status |
| 2:15 | FOMC Meeting Rate Annoucement |
| S&P 500 Emini ES Futures Market Market Profile® TPO number’s: | |
| UVA (Upper Value Area) | 766.75 |
| POC (Point of Control) | 762.75 |
| LVA (Lower Value Area) | 752.25 |
Posted: Mar, 18 2009 @ 8:45 am
Category: Market Commentary
