[/caption] Point of control is 1292.75 with resistance coming in at 1298 , 1303, and an extreme high of 1309 with a consolidation range from 1304 -09. POMO buying is still giving the market buoyancy so Iam not expecting a large sell off. There will be a continuation of small range days as the traders are moving towards equities versus derivatives. Fed is buying treasuries through independent dealers. Of course constitutionally they have no right to get congress to force US citizens to cover their private banking defaults, but that is what is happening. Support will be coming in at 1289.75 then 1284 and further at 1275 area. Watch out for the news and always trade what you see. We will be in Calgary Jan 29-31, Toronto Feb 5-7 and Montreal Feb 26-28. Join us. S&P 500 day trading course
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