Market Update Before Obama Speaks

Obama is just about set to talk to US CEO's about the "FICAL CLIFF", this obviously could be a market moving event.

Instead of throwing out a lot of charts, let me just say the DIA, QQQ, IWM and SPY all have intraday charts that have improved and are positive as well. The backing and filling I mentioned as well as the test of lows has happened in most of the averages.

Here's an update using the futures charts and the EUR/USD.

*By the way, the more I look at AAPL, the more it looks like it's very close to exploding to the upside.

 ES had not been much better than just in line all of the day, it's finally leading a bit here.

 NASDAQ futures remain in a strong leading positive position.

And here's the Euro (EUR/USD) with a nice lead over the SPx, these two are typically in sync, when they fall out, it's usually not for long. I'd guess the SPX will move toward the Euro (orange) which has held up well today considering.