Morning Charts 01/08/13 SPX /ES

Cause it is all about taper and nothing else. That is the game now, nothing more. It is the only metric you need to know. Oh, and taper is bad, Mkay. From Zero Hedge -

"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!