Thursday, January 27, 2011

Late Night S&P500 Update (SPX)

GOLD 1 min 
Continues selling off AMZN's heels... i am keeping this quick tonight.. look for 1298.75 to be the upside line in the sand with 1291 on the downside as support. Gold again is weak tonight 9 more points at one point trading below 1310, currently 1310.70.
ES_F chart below

ES_F 1 min
Clearly equities on the downside are ignoring gold's weakness just as they did intra day. Tonight the story is no different in my opinion, the Q's reacted to not so hot tech EPS as well as a bit of dollar resilience. DX up at the 78 level again..