MrTopStep Mid-Day Update with Danny Riley

on August 10, 2015

MrTopStep trading rules apply; It takes days and weeks to knock the S&P dpwm and only 1 to bring it back.

We are looking at a slower week in terms of earnings and economic reports. Tomorrow we have the NFIB Small Business Optimism Index, Productivity and Cost, Redbook, Whole Sale Trade and a 3 yr Note auction.

Get the shorts to sell into the decline again and after a 7 day sell off in the DOW its up over 212 points as we do todays video.

It’s the same thing over and over; markets sell off, margin calls go out, traders roll lower or liquidate and that causes capitulation that leads to a big short covering rally.

Take about the overall price action and how the S&P will get past the Augie expo and then down into the end of the month.

Spooky Sept and October on Tap but remember October is also known as the BEAR killer
Still thing 2200 by year end.

High: 2097.00
Low: 2086.00 after the open
Last: 2097.00 +24.50 on the day and up 42 handles from Fridays Globex low, and up 35 handles from Fridays 2062.30 day session low.

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