TFP Market Summary for Wednesday January 30, 2013
|ES_F 15 min (NOTE the PINK held @ 1495|
Equity markets relented today after a *seemingly out of nowhere GDP miss* spooked investors into taking profits. The S&P 500 futures traded as high as 1506 before the GDP miss send a long tail down below 1500 into 1498.25.
Shortly after the FOMC the Spooz (ES_F) fell through the 1500 level and tumbled through the 1495 metric we highlighted in the morning letter before finding a bid following the regular session close at 1493.50.
|5 min NQ|
Shares of apple managed to close over the 455 level after trading into the buy stops over 460 pre FOMC.
|CL_F 5 min.. notice how much air is under that red |