S&P Futures Update for Nov 27, 2012

   

The short term and potentially the intermediate trend is up as the S&Ps have begin 1-timeframing up on a weekly basis. Notice we are back within a prior 2 week balance. Taking out 1407.50 targets the Gap above between 1415 and 1410.75 - see daily RTH chart below.



Monday delivered an Inside Day with the S&Ps settling between 2 Gaps. I am viewing the last 2 days as Balance - Be prepared to "go with" a break out from Balance. I will post any observations from the Profiles in the morning after looking at the overnight trade.

S&P Futures Update for Nov 21, 2012

 

Price acceptance above 1393 puts us back into the 2 month balance and may trigger a rally. The overnight high this morning is 1389.25. The weekly bar below also shows 1393 as a 2 week balance low - acceptance above this level puts us back into the upper weekly balance.
 
 

 

Yesterday's profile shows both a poor high and poor Low. A failure at 1393 has good odds of price trading back to y'day's lows. Notice also that the POC's on both Monday and Tuesday did not migrate higher - indicating that short term traders may be too long.