Scott Burrill - Market Notes

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Scott's notes
Scott's Market notes

Weekly Market Update

Jan 12, 2020

Markets are gapping higher in Globex as I type this. Focus this week is on key Economic Releases, Fedspeak, Conferences, and the beginning of Earnings Season.

Once again, the S&P 500 closed within its weekly expected move. Interestingly, it touched both the upper and lower edges on the liquidation break and subsequent recovery.

For the new week in the S&P 500, volatility has slightly contracted, for an option implied move of + / - 38 points with upper and lower ranges of 3303.40 and 3227.30.

The Weekly Trend remains up, and the bias is also up.

The Calendar is active.

Updated Levels.

Have a great week.

All the best,

Scott

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