Notice: To view this week's big picture outlook, click here. What Happened: Alongside news of disappointing economic data and new pandemic restrictions, U.S. index futures auctioned back into prior balance. What Does It Mean: Initiative buyers extended the S&P 500’s rally, breaking the index above its $3,824.25 balance-area high (BAH). After establishing acceptance (i.e., high-volume area, or HVNode) near the $3,850.00 price extension, an upside target, U.S. index futures auctioned back into range, repairing poor structures left in the wake of prior discovery.
Market Commentary For 1/22/2021
Market Commentary For 1/22/2021
Market Commentary For 1/22/2021
Notice: To view this week's big picture outlook, click here. What Happened: Alongside news of disappointing economic data and new pandemic restrictions, U.S. index futures auctioned back into prior balance. What Does It Mean: Initiative buyers extended the S&P 500’s rally, breaking the index above its $3,824.25 balance-area high (BAH). After establishing acceptance (i.e., high-volume area, or HVNode) near the $3,850.00 price extension, an upside target, U.S. index futures auctioned back into range, repairing poor structures left in the wake of prior discovery.