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    PEAK ASSET: MORNING WRAP 9 MARCH: | ASX to lead, Dow surges on rotation trade | Neuroscientific has ‘great confidence’ in possible glaucoma treatment |

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

    PEAK ASSET: AFTERNOON WRAP 08 MARCH: | ASX runs own race to close 0.4% higher | TNG Limited’s NT vanadium-titanium-iron project awarded major project status | China, HK stocks fall on worries over policy tightening |

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

    PEAK ASSET: AFTERNOON WRAP 05 MARCH: | ASX risks weekly gains as falls continue | Alice Queen unearths numerous gold intersections west of the Horn Island gold pit | Indian shares slip on bond yield worries; energy stocks rise |

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

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    RKT, GameStop, AMC Short Squeezes. What Other Stocks Are the Reddit WallStreetBets Traders Targeting?

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

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    Where is the Stock Market Headed? S&P Target 4000? Here’s what JP Morgan Has to Say.

    Where is the Stock Market Headed? S&P Target 4000? Here’s what JP Morgan Has to Say.

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

    PEAK ASSET: AFTERNOON WRAP 03 MARCH: | ASX gains 0.8% as materials surge | Ionic confirms 210% boost to Makuutu rare earths resources | China, HK stocks rise as growth optimism trumps tightening fears |

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

    PEAK ASSET: MORNING WRAP 9 MARCH: | ASX to lead, Dow surges on rotation trade | Neuroscientific has ‘great confidence’ in possible glaucoma treatment |

    Jason Sen: US markets

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    Cabrera Capital Daily Game Plan

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

    PEAK ASSET: AFTERNOON WRAP 08 MARCH: | ASX runs own race to close 0.4% higher | TNG Limited’s NT vanadium-titanium-iron project awarded major project status | China, HK stocks fall on worries over policy tightening |

    The Cotton Row Journal, week of 1 – 5 March

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OP: Rejection

Danny Riley by Danny Riley
Monday, February 1, 2021
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Market Review

GLOBEX

(ESH20:CME) GLOBEX Session(ESH20:CME) Day Session 
High 3777.25Opening Print: 3760.00
Low: 3721.50High 3770.25
Volume: 245,000Low: 3685.50

ES Settlement 3701.00

Total Volume 2.0 M

S&P 500 Futures Recap – Trade Date January 29, 2021

Chart by AMS Trading Group

In The Negative for 2021

After trading in a 55.75-handle overnight range, the S&P 500 futures opened Friday’s cash session at 3760.00, traded a daily high of 3770.25 just after 9:30CT and then sold off through the morning down to a 3685.50 low just after noon. From there, buyers would lift the S&Ps during much of the early afternoon up to 3735.00 just after 2:30 and then late day selling pushed the index back down to 3695.50 before settling at 3701.00, down 78.25 handles on impressive volume of 2.6 million contracts. In terms of price action, it was all about buying the 9:30 high and buying the 12:00 low. 


Economic Calendar


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In the Tradechat Room

MiM

A negative MIM on the 15:50 MOC with about 500M to sell. We had been showing a decent buy and the market was reacting to the early buy signal but at 15:35 it turned negative and down we went into the reveal which was taken as neutral and the Friday close sell-off started and the buy the close for the weekend proved once again the trade to take.

Questions?  Please email me: Marlin@mrtopstep.com

Get the skinny when we get it:  Join the MiM. 


Covid Corner:

Top Worst
Top Best

The number of covid victims hospitalized continues to fall at a nice rate as we work through the end of the year wave. Still not seeing a new wave building anywhere although the rate of falling has pretty much eased off in all the large states. Most states are starting to ease their restrictions and open back up.

Wear your masks!
Stay at least 10 feet behind someone wearing a mask! (Particularly in a checkout line)
Stay home!
Take your Vitamin D!


Chart of the Day


Our View

Rejection / Correction 

I’m going to make this short and sweet. 

There are several reasons for the current downdraft in the stock market right now. The first is how overextended the stock market is, the second reason for the weakness is the reliability issue of the Covid-19 vaccines, the third part is GameStop Corp and AMC Entertainment Holdings Inc which is now spreading to other assets, and the final part is President Biden’s over 40 executive orders, undoing many of the Trump administration’s actions. I’m sure some people don’t believe it but the economy is ‘feeling out’ the new administration’s policies and clearly, the $1.9 trillion stimulus package is being viewed with skepticism. 

The PitBull saw this sell-off coming over a week ago and I didn’t listen. He totally nailed it. All I had to do was get short and go fishing but I continued to buy weakness and got run over. I had several opportunities to sell at the 3850 area and didn’t and I paid the price. 

Our view, the ES is trading 2703.50, up 48 points off the 3656.50 Globex low. My guess is we see a larger bounce today. Sell the early rallies and buy weakness.

Danny Riley is a 39-year veteran of the CME  trading floor. He ran one of the largest S&P desks on the floor of the CME Group since 1985.

As always, please use protective buy and sell stops when trading futures and options.

Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Decisions to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

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