"Equity markets appear wholly dissatisfied with this morning's 'good' news and are unsure whether this taper-on data is confidence-inspiring or liquidty-sapping. The ADP print appears to confirm a higher probability of another $10 billion taper. Bond yields jumped higher, the USD jumped higher, gold dropped, and stocks are limping to the day's lows..."SPX Daily - cash should (should) continue to fare here. If not, any rise should (should) be short lived.
Minis 30m - pretty simple stuff. Above pink support and below 1833, gray and yellow resistance. 1837 remains the bull/bear line. She's waiting, consolidating. Not sure for what, but that's what's happening. Possibly the budget battle next week.There is a possible inverted HnS setup here with neckline at 33 targeting near 1849.
More to come below.
Have a good day.
GL and GB!