S&P Futures Update for Jan 4, 2013

The S&P's almost tagged the 2012 highs, however, following the FOMC minutes we saw a liquidation break. However, the sell off was not aggressive. The Short Term trend is still up and unless Sellers step in the odds are high that we at least re-test the recent highs.

 

Value developing below the Rally High at 1456.25 targets the prominent POC and Poor Low from Wednesday. The high from Thursday was also poor - Price acceptance back above the 1456 area targets the recent highs. 

Absence

Folks - I am having a great time over the holidays - I hope you all are as well. I will begin my usual blog posts in the first week of January.

S&P Futures Update for Dec 20, 2012

 

As mentioned in yesterday's blog post - the expectation was that the market would come into Balance today and that is what occurred for most of the day prior to the late day sell off. What we saw right of the Open was some liquidation, however keep in mind that all trends are still UP. My focus for tomorrow is the 2 day balance shown above. Question is do we open in or out of Balance tomorrow.
Here are my observations regarding the the profiles below - 

1. A Prominent POC at 1439.50 that did not migrate lower as the market was selling off - positive
2. Unchanged Value - positive
3. Two back to back poor lows - Tuesday and Wednesday - which is negative. These poor lows usually have an exponential effect and take precedence over Value. Odds are that we repair these lows tomorrow.
4. If we do repair the lows tomorrow - the base of Monday's Spike is support.

We have some major News announcements tomorrow - including the GDP report and Jobless Claims which should offer some volatility.