Bears fight the rally: Market Pulse
S&P Futures have dipped again in overnight trading as markets continue to react to the tax proposal. Price has dipped back down to the 20day where bulls are holding steady for the time being. If bears are able to drive price below the overnight session lows then I expect to see a continued dip into the 2550 territory. Given that dip buying is continuing to work so well, I am considering long interest on the pullback.
Gold Futures are still attempting to transition off of recent lows, I am looking for a break over critical resistance in the 1293 territory as confirmation of this move. Current support exists down in the 1280 territory, I will be looking for that area to hold should price dip here.
TTNP dipped into some daily support yesterday and is beginning to bounce in the pre-market session. Price is currently up 8.3% at 1.71 and looks clear at this point for a continued climb back up into the 2.00 territory. I will be looking for bulls to hold their ground on this advance just after the open as confirmation of the move.