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Tuesday, April 16, 2013

Market Summary for Tuesday April 16, 2013 | (SPX)

By Hedge Ly | 4/16/2013 05:55:00 PM |

1hr ES. PINCH over white line
The markets bounced back today, do not get excited this is largely just that, reactionary. Though it is hard to ignore a 1.60% move as well as the nearly 3% bounce in gold coupled with a VIX down 19%.

Currently the ES unchanged at 1568.75 with 5 min support remaining at 1650-59.25 bracketed by 1565-67 resistance. If bonds continue you to wash the slide, equities could play a repeat of last night.. ie grind higher into stop regions.  

5 min ES
The dollar continued it's assault on lower prices today, specifically following a large sell ticket punched around 7:03am CT; the price declined another 40 cents following this early sell as the Euro rallied into the 1.32 metric further boosting the equity bid.

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Posted in: chart.,tfp insider,TFP letter