Quotes by TradingView
Tuesday, February 7, 2023
Premium: TradeChat
No Result
View All Result
MrTopStep
  • News
    • All
    • Reuters Business
    CME Loses Key Battle in Potentially Costly Trader Lawsuit

    CME Loses Key Battle in Potentially Costly Trader Lawsuit

    24X5 Options Trading Begins Sunday, November 21

    ICE Notice

    ICE: Margin Rates Update for ICE Futures U.S. Oil Contracts

    ICE: Margin Rates Update for ICE Futures U.S. Gas Contracts

    CME Group Globex Labor Day Holiday Schedule

    Margin Rates Update for ICE Futures U.S. Power Contracts

    AP: US COVID-19 cases rising again, doubling over three weeks

    CME Group – US Independence Day Holiday Schedule: July 2-6, 2021

  • Products
    • Chatroom Login
    • Wyckoff Trader
    • MIM
    • Polaris Trading Group
    • IM Pro Trading Chat Room
  • Stocks
    • All
    • Apple
    • Dow Jones
    • Earnings
    • Facebook (FB)
    • Goldman Sachs (GS)
    • IPO
    • M&A
    • Markets
    • Mining
    • Nasdaq
    • NYSE
    • Russell 2000
    • S&P 500
    • Twitter (TWTR:NYSE)
    • VIX
    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 07 FEBRUARY: US stocks extend losses | RBA poised to lift rates by 0.25pc | Will Newmont’s $24 billion Newcrest bid cause a gold takeover cascade? |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 6 February: ASX drops 0.25pc | UBS remains dovish on RBA | Gascoyne Resources releases exploration target |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 06 FEBRUARY: ASX to rise as investors hang hopes on a soft landing | After a successful $4.5 million cap raise and with cancer trial results to come, Kazia is optimistic for 2023 |

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 03 FEBRUARY: ASX to rise | Alphabet, Atlassian tumble on earnings | Aura gets 30-year guarantee for Mauritania uranium project |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 31 January: ASX swings to loss | Retail sales plummet; Megaport sheds 25pc | Avecho Biotechnology progresses CBD softgel trials for insomnia treatment |

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    Trending Tags

    • FEEDID-6
    • FEEDID-51
    • FEEDID-44
    • FEEDID-31
    • FEEDID-21
    • FEEDID-16
    • FEEDID-36
    • FEEDID-10
    • feedid-56
    • feedid-58
    • feedid-61
    • feedid-59
    • feedid-60
    • feedid-62
    • feedid-63
    • feedid-65
    • feedid-66
  • Charts
    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 07 FEBRUARY: US stocks extend losses | RBA poised to lift rates by 0.25pc | Will Newmont’s $24 billion Newcrest bid cause a gold takeover cascade? |

    $ up, cotton down, easy money.

    Jason Sen: Forex

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 6 February: ASX drops 0.25pc | UBS remains dovish on RBA | Gascoyne Resources releases exploration target |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 06 FEBRUARY: ASX to rise as investors hang hopes on a soft landing | After a successful $4.5 million cap raise and with cancer trial results to come, Kazia is optimistic for 2023 |

    Dollar dipsey doodle at 10150.

    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 03 FEBRUARY: ASX to rise | Alphabet, Atlassian tumble on earnings | Aura gets 30-year guarantee for Mauritania uranium project |

    Jason Sen: Stock markets

  • Commentary
    • All
    • Market Recap
    • MrTopStep
    Danny’s View:  Do We Have A Major Turn Coming?

    Danny’s View: Do We Have A Major Turn Coming?

    Danny’s View:  Blowout Jobs Report Has S&P On Its Heels

    Danny’s View: Blowout Jobs Report Has S&P On Its Heels

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    Danny’s View:  Markets Shrug Off Fed Worries

    Danny’s View: Markets Shrug Off Fed Worries

    Danny’s View:  All About What The Fed Says (Not What It Does)

    Danny’s View: All About What The Fed Says (Not What It Does)

    Taylor 3 Day Cycle – Polaris Trading Group

    Taylor 3 Day Cycle – Polaris Trading Group

    The Washington Post – US stocks open higher, putting market on track for 3rd gain

    Danny’s View: Starting The Week With A Needed Pullback

    Danny’s View:  Bulls Are In Control For Now

    Danny’s View: Bulls Are In Control For Now

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

  • Education
    • All
    • Economics
    • Trading Methods
    • Trading Psychology
    • Trading Room
    • Trading Rules
    • Webinars
    Chart of the Day: AMZN Stock

    Chart of the Day: PINS Stock

    Chart of the Day: AMZN Stock

    Chart of the Day: Trading the S&P 500 and the S&P Futures

    Here’s Why You Need Mr. Top Step

    Here’s Why You Need Mr. Top Step

    Chart of the Day: AMZN Stock

    Chart of the Day: Etsy Stock Tumbles

    Chart of the Day: AMZN Stock

    Monthly Trading Time: The Good, The Bad and The Ugly

    Chart of the Day: AMZN Stock

    Chart of the Day: Can Apple Stock Hit Record Highs?

    Chart of the Day: AMZN Stock

    Chart of the Day: Can GOOGL Stock Stay Up?

    Chart of the Day: AMZN Stock

    Chart of the Day: GameStop Stock Raises Capital

    Chart of the Day: AMZN Stock

    Chart of the Day: Another Go at Amazon Stock

  • NYSE Holidays
  • Video
  • News
    • All
    • Reuters Business
    CME Loses Key Battle in Potentially Costly Trader Lawsuit

    CME Loses Key Battle in Potentially Costly Trader Lawsuit

    24X5 Options Trading Begins Sunday, November 21

    ICE Notice

    ICE: Margin Rates Update for ICE Futures U.S. Oil Contracts

    ICE: Margin Rates Update for ICE Futures U.S. Gas Contracts

    CME Group Globex Labor Day Holiday Schedule

    Margin Rates Update for ICE Futures U.S. Power Contracts

    AP: US COVID-19 cases rising again, doubling over three weeks

    CME Group – US Independence Day Holiday Schedule: July 2-6, 2021

  • Products
    • Chatroom Login
    • Wyckoff Trader
    • MIM
    • Polaris Trading Group
    • IM Pro Trading Chat Room
  • Stocks
    • All
    • Apple
    • Dow Jones
    • Earnings
    • Facebook (FB)
    • Goldman Sachs (GS)
    • IPO
    • M&A
    • Markets
    • Mining
    • Nasdaq
    • NYSE
    • Russell 2000
    • S&P 500
    • Twitter (TWTR:NYSE)
    • VIX
    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 07 FEBRUARY: US stocks extend losses | RBA poised to lift rates by 0.25pc | Will Newmont’s $24 billion Newcrest bid cause a gold takeover cascade? |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 6 February: ASX drops 0.25pc | UBS remains dovish on RBA | Gascoyne Resources releases exploration target |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 06 FEBRUARY: ASX to rise as investors hang hopes on a soft landing | After a successful $4.5 million cap raise and with cancer trial results to come, Kazia is optimistic for 2023 |

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 03 FEBRUARY: ASX to rise | Alphabet, Atlassian tumble on earnings | Aura gets 30-year guarantee for Mauritania uranium project |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 31 January: ASX swings to loss | Retail sales plummet; Megaport sheds 25pc | Avecho Biotechnology progresses CBD softgel trials for insomnia treatment |

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    Trending Tags

    • FEEDID-6
    • FEEDID-51
    • FEEDID-44
    • FEEDID-31
    • FEEDID-21
    • FEEDID-16
    • FEEDID-36
    • FEEDID-10
    • feedid-56
    • feedid-58
    • feedid-61
    • feedid-59
    • feedid-60
    • feedid-62
    • feedid-63
    • feedid-65
    • feedid-66
  • Charts
    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 07 FEBRUARY: US stocks extend losses | RBA poised to lift rates by 0.25pc | Will Newmont’s $24 billion Newcrest bid cause a gold takeover cascade? |

    $ up, cotton down, easy money.

    Jason Sen: Forex

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 6 February: ASX drops 0.25pc | UBS remains dovish on RBA | Gascoyne Resources releases exploration target |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 06 FEBRUARY: ASX to rise as investors hang hopes on a soft landing | After a successful $4.5 million cap raise and with cancer trial results to come, Kazia is optimistic for 2023 |

    Dollar dipsey doodle at 10150.

    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 03 FEBRUARY: ASX to rise | Alphabet, Atlassian tumble on earnings | Aura gets 30-year guarantee for Mauritania uranium project |

    Jason Sen: Stock markets

  • Commentary
    • All
    • Market Recap
    • MrTopStep
    Danny’s View:  Do We Have A Major Turn Coming?

    Danny’s View: Do We Have A Major Turn Coming?

    Danny’s View:  Blowout Jobs Report Has S&P On Its Heels

    Danny’s View: Blowout Jobs Report Has S&P On Its Heels

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    Danny’s View:  Markets Shrug Off Fed Worries

    Danny’s View: Markets Shrug Off Fed Worries

    Danny’s View:  All About What The Fed Says (Not What It Does)

    Danny’s View: All About What The Fed Says (Not What It Does)

    Taylor 3 Day Cycle – Polaris Trading Group

    Taylor 3 Day Cycle – Polaris Trading Group

    The Washington Post – US stocks open higher, putting market on track for 3rd gain

    Danny’s View: Starting The Week With A Needed Pullback

    Danny’s View:  Bulls Are In Control For Now

    Danny’s View: Bulls Are In Control For Now

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

  • Education
    • All
    • Economics
    • Trading Methods
    • Trading Psychology
    • Trading Room
    • Trading Rules
    • Webinars
    Chart of the Day: AMZN Stock

    Chart of the Day: PINS Stock

    Chart of the Day: AMZN Stock

    Chart of the Day: Trading the S&P 500 and the S&P Futures

    Here’s Why You Need Mr. Top Step

    Here’s Why You Need Mr. Top Step

    Chart of the Day: AMZN Stock

    Chart of the Day: Etsy Stock Tumbles

    Chart of the Day: AMZN Stock

    Monthly Trading Time: The Good, The Bad and The Ugly

    Chart of the Day: AMZN Stock

    Chart of the Day: Can Apple Stock Hit Record Highs?

    Chart of the Day: AMZN Stock

    Chart of the Day: Can GOOGL Stock Stay Up?

    Chart of the Day: AMZN Stock

    Chart of the Day: GameStop Stock Raises Capital

    Chart of the Day: AMZN Stock

    Chart of the Day: Another Go at Amazon Stock

  • NYSE Holidays
  • Video
No Result
View All Result
MrTopStep
Home Charts

Chart of the Day: Trading the S&P 500 and the S&P Futures

Contributor by Contributor
May 13, 2021
in Charts, Technical Analysis
0 0
0
Chart of the Day: AMZN Stock
78
SHARES
559
VIEWS
Share on FacebookShare on Twitter

As Danny Riley will note in this morning’s Opening Print, Wednesday’s price action was tough. Trading the S&P 500 or its futures contract was not an easy task. The latter shed 2.1% in the session, dropping more than 87 points. 

The Dow didn’t fare much better. The futures contract dumped 675 points, falling 1.97% on the day. That followed Tuesday’s session, where the index fell 485 points and after it made new all-time highs on Monday. 

The undercurrents in the market have been tough, with some groups performing well and some groups performing dreadfully (looking at you, growth stocks). 

Are we hitting a turning point though?

Trading the S&P 500

Trading the S&P 500
Chart courtesy of TradingView.com

I was talking to Danny Riley last week on the phone. It was Thursday. He told me, “When the market’s down Monday, Tuesday and Wednesday, you just gotta pick your spot and take a shot on Thursday or Friday.” 

He was right and called it out right in the Mr. Top Step Trading Room. That was a big pay day for many members as we saw an absolute ripper on Thursday afternoon going into the close.

Could we be setting up for the same thing this week? 

The ES hit new all-time highs on Monday before reversing and closing lower by almost 42 points or about 1%. Not great price action. That was followed by two big down days as the contract now rests right on the 50-day moving average. 

That has me thinking perhaps we could be setting up for a rebound in the next day or two. 

It’s possible we break Thursday’s Globex low and potentially test down into 3,975. However, I am looking at the index from the long side this morning. 

Danny Riley is Mr. Top Step’s 39-year veteran of the CME trading floor and ran one of the largest S&P desks on the floor. Here’s what he’s thinking each morning before the stock market opens. 

Trading the Dow 

Chart courtesy of TradingView.com

The Dow has a similar setup. We have a nice three-day flush to the downside, with the fourth day resulting in a test of the 50-day moving average. 

Let’s see if the Dow can find its footing here. 

We just about filled that gap from April 1st, but again, if we break the Globex low, it’s possible we see this 33,000 area tested in earnest. 

The bottom line: We’re fresh off all-time highs from earlier this week. The CPI reading spooked investors and that spooking may carry into the weekend. However, at this point it would be a bigger worry (to me, at least) if we didn’t have inflation. Have we all forgotten what the year-over-year comps look like? 

I am looking to buy into the rebound today and/or tomorrow in a limited-risk fashion. Let’s see if the bulls can make a stand here. 

As we all know, there’s no crystal ball when it comes to trading stocks, options or futures. But the Market Imbalance Meter may be as close as it comes. Knowing how the “Big Money” is placing its bets can give our trading room a big wave to ride — or a warning sign to stay out of the water. Come check it out now, risk free for 30 days.

Previous Post

Protected: OP: Stock Markets Fall on Inflation Fears

Next Post

OP: Stock Markets Fall on Inflation Fears

Related Posts

PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally
Asia

PEAK ASSET: MORNING WRAP 07 FEBRUARY: US stocks extend losses | RBA poised to lift rates by 0.25pc | Will Newmont’s $24 billion Newcrest bid cause a gold takeover cascade? |

February 6, 2023
Charts

$ up, cotton down, easy money.

February 6, 2023
Charts

Jason Sen: Forex

February 6, 2023
Next Post
OP: Stock Markets Fall on Inflation Fears

OP: Stock Markets Fall on Inflation Fears

Search

No Result
View All Result

MrTopStep Live Stream

Popular Posts

  • NYSE Holidays 2020 Stock Market Schedule

    NYSE Stock Market Holidays 2022 | Stock Market Calendar

    3307 shares
    Share 1335 Tweet 822
  • Market On Close: Trend down day and the MOC capitulated but sector wise a bit bullish.

    650 shares
    Share 260 Tweet 163
  • 1920s Stock Market Chart

    545 shares
    Share 218 Tweet 136
  • Introduction to T-Theory – Magic-T

    478 shares
    Share 191 Tweet 120
  • S&P 500 projections: What the locals in the pit think

    345 shares
    Share 138 Tweet 86

The information in these Market Commentaries do not constitute a solicitation of the purchase or sale of any futures or options contracts.

Connect

Facebook Twitter Youtube

Office Hours

Monday-Friday: 7:30 AM- 4:00 PM
Order online 24/7

Ph: (207) 358-8545‬

email: info@mrtopstep.com

We Accept

© 2020 - MrTopStep All Rights Reserved.

No Result
View All Result
  • News
  • Products
    • Chatroom Login
    • Wyckoff Trader
    • MIM
    • Polaris Trading Group
    • IM Pro Trading Chat Room
  • Stocks
  • Charts
  • Commentary
  • Education
  • NYSE Holidays
  • Video

© 2020 - MrTopStep All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In