SCHEDULED NEWS
Good morning, everyone. Today is Tuesday, September 16th.
Monday turned out exactly as we anticipated: a snoozer of a day with extremely low relative volume, where the market ground higher all day. This is a big takeaway: when we have low relative volume, you default to trend; you do not fade a low-volume day.
This morning, we have our first set of red-tag news at 8:30 AM ET with Core Retail Sales, which will likely give the market a little shake. However, the market is patiently waiting in a drift-higher mode for the big FOMC rate announcement on Wednesday. Let's get right into the levels.
A Note on Contract Rollover
Before we begin, I want to note that I have not rolled over yet. I am still trading the September (U) contract. I will not be rolling over into the December (Z) contract until this coming Sunday for the Weekend Review.
