After making a 2034 high in Globex, the S&P chopped around most of the day before popping up to 2024, then eventually sold off down to 2016 late in the day. Further selling came in on the close pushing the minis down to 2008.
MOC: The MiM started off showing $88mil to sell, then flipped $100mil to buy.
Total Volume: 1.6mil minis, and 4k bigs traded in the pit.
For Tomorrow:
Jobless Claims
Chicago Fed National Activity Index
Retail Sales
FHFA House Price Index
Existing Home Sales
Leading Indicators
EIA Natural Gas Report
3 and 6-Month Bill Announcement
Kansas City Fed Manufacturing Index
2, 5, and 7 Yr Note Announcements
30-Yr TIPS Auction
Money Supply
Fed Balance Sheet
Whoosh!!!
The Markets have gone too far. If you want to know where the S&P is going, then follow the money. The MOC buy imbalances have been building up, and the few sell imbalances we have seen have been small. Money is coming back into the market.
Look for some profit taking going into the end of the week.
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