Daily Market Wrap January 11 2016
Bearish Trend may have reversed today with a double bottom touch in SP500, and approx. 10% correction
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SP
Reversal Day for Indexes
Another interesting day in markets today, we began the session near overnight lows and rallied strongly, with ES climbing 30 points off the 9am lows, then quickly reversing again to drop 45 handles in a straight line down move. Internals have been calling for all of the recent rallies to reverse, as noted in our
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Trend Down Day Dec 3rd
Futures in premarket shrugged off the down move of yesterday, particularly NQ100 futures which retraced within ticks of all time highs. The important news item of the day occurred in premarket session with rate announcements by Draghi of the ECB, announcing another rate cut in overnight repo rates and a minimum 6 month extension in
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Bearish Trend Day Down
Bearish trend day today confirmed at 10:15am ET and indexes dropped all day, with the typical for a trend day small retrace starting at 3:30om as short term shorts started to cover. Internals were bearish accross the board. Expectations for overnight and premarket trade tomorrow is for further retrace upwards to key resistance levels, on
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