07 February 2012

SP 500 and NDX Futures Daily Charts - Benny Gooses the Beta with a Liquid Touch

This market is looking tired and the volume is drying up. But while the volume remains low it will likely keep drifting with an upward bias.

The SP Futures closed today at the July high which is remarkable.

First serious event will take it down hard. Strong support is at 1270 or so.

Don't feed the sharks. Wait for it.

Disney exceed earnings but missed the topline revenue. It is amazing what modern US accounting rules can allow. They took a hit in the theme park business. Looks like Mom and Pop are tightening their budgets.