Thursday, February 7, 2013

S&P Futures Update for Feb 8, 2012

The Monthly Trend is UP. The Weekly trend is Balancing as shown in the graphic above. All auctions usually come into balance before resuming the current trend or reversing. The daily bar shows a 10 day Balance with no Excess at the highs. Any breakout may be pretty dynamic if and when it occurs.

I have not included any profiles because they don't add much to my analysis. While Value was overlapping to lower, we closed near the highs. We now have 3 settle's (Close) within a couple of ticks of each other. The market wants to move higher but is struggling. A short term correction will be healthy. The first sign of change will be price acceptance below the 1490 level. Lets see what tomorrow brings.

No comments:

Post a Comment