TFP Market summary for January 23, 2013

$AAPL 1 min showing AH low 

Equity indexes logged another day of gains after the house approved a debt ceiling extension into May. With the debt vote unknown out of the picture for a few months, earnings from IBM MCD and GOOG helped to lift the SPX higher for a 3rd day this week.

The S&P 500 SPX added 2.25 points or 0.15% to close at 1494.81 after making a high of 1496.13.

NQ futures 1 min AH action

The Nasdaq 100 NDX closed closed the day higher by 15.98 points or 0.58% at 2762.17 as shares of $AAPL rallied up from 500 into 514.06 close.

Though none of what happend intra-day in AAPL matters now as the company reported it’s third quarterly profit miss which sent shares down to 457.30 in the after hours.

Because of the fact the NDX was closed before after apple reported the NQ futures became the focus when $AAPL failed the 480 level the NQ fell into a 2707.75 low from the 2758.75 wick HIGH print the second AAPL EPS hit the tape. HFT games.. .

The Russell 2000 RUT small caps ended the day on a red note despite the big boards closing green. The RUT failed the 897.40 level late in the session which alluded to selling into 896.20 which put the index down 2.5381 points 0.28% @ 896.70.

5 min CL 

In our morning note we spoked about Gold weakness under the 88 level, GC futures failed the 88 level and gave way to 1483.75.

Crude weakness was notable today as rumors of oversupply at the gulf terminal sent prices tumbling some 1.68% before prices stabilized over 95 after trading into 94.95.

SPY: Support= 148.80, 148.50 | Resistance= 149, 149.30, 159.59
QQQ: Support= 66.37, 66.30  | Resistance= 66.85, 67, 67.17
IWM: Support= 88.60, 88.50 | Resistance= 88.80, 88.93, 89

overnight ES levels to watch 
ES support = 1484.50
ES resistance = 1486.50