Friday, November 30, 2012

S&P Futures Update for Nov 30, 2012

 

Thursday saw another push higher on low Volume. Long Risk remains high - Wed's structure was too stretched out and needs repair. However price acceptance above 1418 area targets the prior 2-week balance high at 1431. Overnight inventory is mostly short. Any opening away from the prominent POC has high odds of being drawn back to that level. Wed's high should offer short term support. Acceptance back within Wed's range may trigger a liquidation break.

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