[/caption] Point of control is 1280.75. The S&P500 emini futures contract has been drifting up on low volume. Buyers could hold on to this direction if they break through the previous swing highs and move to 1298-1303 resistance areas. If we continue in this direction we could see 1348 by mid Feb. Dependant on just how much the fed is going to prop this up. Watch support at yesterday's lows, we could see a re test of this area and maybe a close of the gap to re test 1268. Under there the next level of support is around 1259.50 and then 1250 followed by the 200ma at 1245. Fed will be buying treasuries again as noted in meeting releases. So all is rosy. Trade what you see and come see us in Calgary Jan 29-31. S&P 500 day trading course
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