Monday, August 29, 2011

8/29/11 Morning Prep / Analysis: PCE price index, spending, personal income (8:30am)

Fundamentals: Futures sharply higher.
- 8:30am: PCE Price Index, Spending, Income numbers
- 10:00am: Pending Home Sales

Technicals: 7:09 AM, markets sharply higher. Technicals on all timeframes showing bullish environment. News today will dictate whether markets can continue higher or will reverse. Current price above my trigger lines on all charts.

Course of action: I will be waiting for the 8:30am news and will analyze the impact as it's released. If it's positive / neutral, I will be looking for a long signal to enter.

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