S&P 500 Futures Daily Insights for Wed 25 Jan 2023
Time for Patient Watching...
GDR Model Insights for the Current Week
S&P 500 Futures Market Profile Insights for Today
Near-Term Outlook: Potential Re-Entry into Previous Balance Zone
At first glance yesterday may seem Bullish because of the Excess Low and the lack of material Excess on the High. However, taking the full context into account, it seems more like a short-covering day which may have further weakened the market going into today.
The fact that the ES did not even come close to the Monday (1/23) High and the proximity of the Previous Balance Zone below contributes to this idea. At this point, if you are Long-biased, don’t be over-eager - let the market show its hand first. If you are Short-biased, be careful in overstaying your welcome.
Overall this looks like the kind of market environment where staying on the sidelines and being patient is probably the optimal decision for most. This is supported by the major data releases tomorrow (GDP) and Friday (PCE).
Potential Market-Moving Events Today
Key Earnings After Close: TSLA 0.00%↑