TFP market summary for Thursday February 7, 2013

15 min ES. note the V

What goes up must come down? …the dip buyers were back in force today, but a bit trigger shy as the bears gave up over 1494 as buyers slowly moved back in.

The ES rose from 1494.50 all the way back to 1506.75 before falling back to around 1506 were the futs currently sit as of this writing.

DO or die ES must hol 1490.25 if 1494.50 fails or its 85-70 ES quick.

The force behind today’s dip, bond strength. at least that is what the correlation told me. Maybe some other force is beyond the trade i dont know and i dont really care because the charts said bonds were bid and equities were simultaneously offered as we noted earlier in the day. Once the bond bid subsided equities came back about an hour after the open.

30 min ES. note rising volume the past 2 weks

The NQ had a wild range trading up into a 2748.75 high off the open then falling to 2712 then bouncing in the last hour after Apple released a note acknowledging investor cries to return cash to shareholders.

Currently the NQ sits @ 2744.75 with a slight bid 2750 is a possible pinch level up out of a inverse H&S with 2712 being the head.

Precious metals gyrated today as ECB left rates unchanged sending the DX clear over the 80 level, but gold and silve are unchanged from their regular session close.

NQ 5 min 

Crude failed the 96.50 level intra day causing spillage into 95.55 before a slight bid carried it back to 96 where it sits currently.

If CL can get back over 96.25 it has a good chance of breaking that 97.75 level if the far east buyer shows up in the early am. under 95.50 its back to 95.20-94.94.

LinkedIn reported a beat after hours and shares ripped into 135…. how many people actually use this site? i mean…