S&P 500 Futures Daily Insights for Tue 7 Feb 2023
Short-term Balance with a slight Bullish edge
GDR Model Insights for the Current Week
S&P 500 Futures Market Profile Insights for Today
Near-Term Outlook: Short-Term Balance, tilt Bullish
Yesterday was a Balanced Day that corrected a large chunk of the Poor Structure from Fed Day last week. Moreover, there is significant Excess on the Low, but no material Excess on the High. Therefore, today should be treated as a short-term Balance with edges on Yesterday’s High and Low. In this case, the Low looks much more secure than the High, hence the near-term outlook leans Bullish.
Some days are simpler than others…
Potential Market-Moving Events Today
08:30am - Trade Balance
12:40pm - Fed Chair Powell Speaks