Trading Desk

1822 total posts

January 21, 2015

News Trading Desk Morning Macro News

Morning Macro News

posted by CAPIS on 01/21/2015 at 6:56 am
by CAPIS on 01/21/2015

The SPX opened higher with futures, and immediately made their HOD at 2028.94. We fell the first 30 minutes below PDC to test 2010 support / SPX Pivot Point (PP). After the Initial Balance (first hour range) was set, the market decided to test below the IB to 2005 (which was 2000 and the PP for ESH5).  From there the selling pressure was exhausted and we went back to value at 2010. After hanging through lunch, Mr. Market decided to take a few steps higher to test, and break through with buy-stops, PDC. 2025 resisted into the Close, and we settled slightly higher by 0.15% to 2022.55.  All in not a bad recovery off lows to positive, with resistance at the 150% extension level, from the financial crisis, of 2030.74, but also not a resoundingly bullish move either. The market is basically finding support slowly and is hanging near flat ST (the 5/10/20 DMAs), MT (50 & 100 DMAs), and LT (200 DMA) trend lines.  As I stated Tuesday, 2000 is holding so far and let’s see if earnings / ECB can push us to the 2050 level again, with a test of the 2014 Close @ 2058.90. To Note:…

The SPX opened higher with futures, and immediately made their HOD at 2028.94. We fell the first 30 minutes below PDC to test 2010 support / SPX Pivot Point (PP). After the Initial Balance (first hour range) was set, the market decided to test below the IB to 2005 (which was 2000 and the PP for ESH5).  From there the selling pressure was exhausted and we went back to value at 2010. After hanging through lunch, Mr. Market decided to take a few steps higher to test, and break through with buy-stops, PDC. 2025 resisted into the Close, and we settled slightly higher by 0.15% to 2022.55.  All in not a bad recovery off lows to positive, with resistance at the 150% extension level, from the financial crisis, of 2030.74, but also not a resoundingly bullish move either. The market is basically finding support slowly and is hanging near flat ST (the 5/10/20 DMAs), MT (50 & 100 DMAs), and LT (200 DMA) trend lines.  As I stated Tuesday, 2000 is holding so far and let’s see if earnings / ECB can push us to the 2050 level again, with a test of the 2014 Close @ 2058.90. To Note:…

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