Wednesday, January 2, 2013

The First Trading Session of 2013 concluded with a bang |

15 min ES - note 
As technicals aligned with headlines so to speak, the perfect storm has passed leaving the NDX up 85.54 points or 3.21% to close .48 & the SPX added 36.23 points or 2.54% to close @ 1462.42.

The real story here is the Russell 2000 small caps as they broke out to multi year highs this morning after the index played possum for months. Chart below

The RUT added 24.07 points or 2.83% to close @ 873.43 after trading as high as 873.99.

RUT Weekly
Today was a day to take profits into this move. not initiate new positions are highs of session/range. Now comes the digestion period as there is air below 1440 into 1428 or so. over 158 we have 1460-70 as next line of resistance going back to 9/10/2012 1468 high.
SPX 1 hour

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