Top Notch Trading 01/02/18

Good morning,

The s&p took a path that I thought it would, but that Nasdaq future just sliced and diced me on that first short at 6453.75 as it exploded higher this morning and I look at the board seeing Google +11, Amazon +13, and Apple up +2.
The s&p opened at 2687.00 found an initial high at 2687.25 on its way to find a current low at 2681.75.  Never even close to any of the pivot levels followed with a move to retest that opening print for a spot on high, but when it found a “higher low” print, 2683.50,  it made is way up to the first resistance area of 2690.75 / 2691.25, topping out at the 2690.75 price.  Several attempts at that level in a 10 minute period could only manage a pull back low at 2689.75, all but saying new highs were coming and as I write new highs at 2692.25 have just been made.  I stated I was looking for that contract high of 2698.25 in the near term, but didn’t think it would come this fast, although the jury is still out there if that level is found by days end.  Up top the daily fib of 2703.75 and weekly fib 2709.25 wait in line for new highs.  Early returns point out the opening print as a deal breaker moving forward.
The Nasdaq opened at 6440.50, found an initial high at 6445.00 leading a first move south finding a current low at 6426.25.  Missing a test of a stop price 6419.25, let alone the pivot levels as well, turned the after burners on when making new highs on the ensuing move.  The 6453.75 price was filled and stopped out within minutes of that trade as it topped out at a high of 6475.00 before seeing any type of pull back.  A low of 6465.75 was made off that 6475.00 high as it kept stepping up the ladder rungs with new highs at 6485.50, a higher low 6480.50, as it appears the last move could have exhausted itself with a current print at 6498.00.  A 10 plus handle pull back offers an early return look at the 6453.00 price, a level that sounds awful familiar from the morning report.  That level appears to be the deal breaker, but I’m pretty sure the highs aren’t in for the day.  Looking for the weekly fib 6510.75 and an underestimated # price target of 6514.50 for next tests, as this future also looks for contract highs above the current one 6545.75.  Tabbing the board for clues.
Top Notch