S&P 500 Futures Daily Insights for Thu 26 Jan 2023
Spike Rules apply ahead of key Q4 GDP release
GDR Model Insights for the Current Week
S&P 500 Futures Market Profile Insights for Today
Near-Term Outlook: Spike Rules ahead of Major Data Release
Yesterday the market opened strongly Bearish, but as soon as the ES tagged below the 200-Day Moving Average we saw strong buying that left behind an Excess Low and brought prices back above the recent Balance Zone. The structure below is not great, and yesterday’s rally seems like weak-hands buying and/or short-covering ahead of a major data release. While it can be valuable to note when the market does not follow our expectations, it is more important to remember that the market is always right.
Spike Rules apply today as GDP data will be released at 8:30am today along with a bunch of other economic figures (see below). Seems like there is potential for increased volatility.
Potential Market-Moving Events Today
08:30am - GDP, Initial Jobless Claims, Durable Goods Orders, Goods Trade Balance
10:00am - New Home Sales