S&P 500 Futures Daily Insights for Tue 10 Jan 2023
Yesterday's Liquidation Break left behind a Poor High. Greater odds Powell speech reaction today will be Bullish
GDR Model Insights for the Current Week
S&P 500 Futures Market Profile Insights for Today
Near-Term Outlook: Bullish, in between Balanze Zones, beware pending event
By the end of the morning yesterday, the market had gotten too long and a Liquidation Break ensued taking the ES all the way under the Overnight Low. Liquidation Breaks serve to correct over-extended inventories so this shouldn’t be seen as the start of a more serious correction for now.
More importantly, the start of the Liquidation Break left behind a Poor High, a critical clue that this is temporary and that there are greater odds that today’s reaction to Powell’s speech at 9am will be Bullish.
Potential Market-Moving Events Today
09:00am - Fed Chair Powell Speaks