S&P 500 Futures Daily Insights for Wed 15 Feb 2023
Middle of Balance Zone, traders awaiting further information before next move
GDR Model Insights for the Current Week
S&P 500 Futures Market Profile Insights for Today
Near-Term Outlook: Middle of Balance Zone, can go either way
Yesterday shows failed attempts to break on both sides which left behind and Excess High and an Excess Low. There is an interesting nuance to yesterday in that trading after 2pm seems to have been largely dominated by weak-hands traders. This suggests a lack of interest from stronger-hands traders who are likely awaiting today’s Retail Sales data and/or tomorrow’s PPI data so that yesterday’s CPI number can be given proper context.
The market is clearly in the middle of a large Balance Zone where failures to take out the Swing High and Low market in the chart above will likely be met by rotation to the opposite side of the Range.
Potential Market-Moving Events Today
08:30am - Retail Sales, NY Empire State Manufacturing Index
09:15am - Industrial Production
10:00am - Business Invetories