Easy As She Goes
Seems like the seasonal winds continue to favor the bulls as we keep testing the coveted 1300 mark despite lackluster NYSE sessions. On a short term basis we now have a decent chance of pulling back before a push higher. The daily is not showing us that much but the weekly is a lot more forthcoming:
That upper 25-week BB line should be good for a red candle before probably proceed toward SPX 1400 – T2 on my monthly panel. My volume profile chart is not showing me much mojo above 1310 or so – not impossible they gap into that but I think it’ll take a bit more time. In any case – watching the AUD/JPY and the spoos remain key for avoiding any NYSE open surprises.
You may recall that late January usually favors the bulls for a week or two. The only problem with timing here is that everything appears to be seasonally late this time around. We got our ‘Santa Rally’ in late December into mid January and thus it seems to me we’re running a tad behind common seasonality. Not that trading would be that easy to begin with – granted 😉
Alright – once more a few FX goodies for my intrepid subs below – I keep telling you that the real fun is happening outside of equities right now:
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This entry was posted on Wednesday, January 18th, 2012 at 3:31 pm. Both comments and pings are currently closed.