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

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

    PEAK ASSET: AFTERNOON WRAP 07 APRIL: ASX hits best close since COVID with 0.6% rise | Crowd Media calls on investee technology to produce ‘Digital Dom’ talking head | Indian shares rise after RBI holds key rates steady |

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

    PEAK ASSET: AFTERNOON WRAP 06 APRIL: ASX adds 0.8% as travel stocks take flight | Golden Deeps widens Namibia drilling plan to include historic copper-vanadium mine | China stocks fall as healthcare, consumer companies weigh |

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

    PEAK ASSET: MORNING WRAP 6 APRIL: ASX to rise | Dow and S&P 500 reset record highs | These ASX explorers say ‘company makers’ still lurk in one of WA’s oldest, richest gold provinces |

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

    PEAK ASSET: AFTERNOON WRAP 01 APRIL: ASX steadies after jittery start, up 0.6% ahead of Easter break | Creso Pharma launches three CBD-based tea products under cannaQIX brand | China stocks climb on consumer, healthcare boost; Hong Kong rises |

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    PEAK ASSET: MORNING WRAP 1 APRIL: ASX to rise | Tech rally lifts S&P 500 to new high | Eagle Mountain gears up in pursuit of copper context |

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

    PEAK ASSET: AFTERNOON WRAP 31 MARCH: ASX adds $37b in surge to five-week high | Zenith Minerals test work returns high gold recoveries at Split Rocks | China stocks fall weighed by material, property shares |

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

    PEAK ASSET: MORNING WRAP 31 MARCH: ASX to rise | Wall St Stumbles, gold Loses lustre | Digital Wine Ventures is up by 120pc in a month after striking two big deals in a week |

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OP: The Last 200 Hours

Danny Riley by Danny Riley
Monday, January 11, 2021
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Market Review

GLOBEX

(ESH20:CME) GLOBEX Session(ESH20:CME) Day Session 
High 3773.25Opening Print: 3765.75
Low: 3742.00High 3804.00
Volume: 175,000Low: 3663.75

ES Settlement 3797.25

Total Volume 1.25M

S&P 500 Futures Recap – Trade Date January 8, 2021

First Week is a Winner

After trading in a 31.25 handle overnight range, the S&P 500 futures opened Friday’s cash session at 3765.75 and traded the daily low of 3663.75 in the initial minutes before heavy buy programs came in pushing the index futures higher throughout the early morning, up to 3803.25 just after 10:00. From there, the futures would trade sideways for the rest of the morning, through the noon hour and early afternoon. The index printed the daily high of 3804.00 just before settling at 3797.25, up 81.50 handles or +2.18% on volume of 1.2 million. In terms of price action, it was all about buying the open and holding into the late-day high.


Economic Calendar


Closing Prices


In the Tradechat Room

MiM


Up, up, and away in the beautiful bull-market. MiM was all bullish into the close with a 15:50 MOC of 3.7M but the trade was from 2 pm into the close as it made an almost 40-point rush to close the week.

Questions?  Please email me: Marlin@mrtopstep.com

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


Covid Corner:

Top Bad

Top Good

Our US map of case trends is starting to settle down. It won’t be until next week that we have decent data to extract trend from. Regardless of the new cases trend we are hopfully at a peak, if not we are in big trouble as deaths continue to rise post new cases.

The rush to vaccinate is on and Israel is far away in the lead. Over the weekend they announced a secure pipeline to the Pfizer vaccine in turn for long term data sharing turning the country into a giant stage X trial. Almost everyone over 60 that wants a vaccine has been inoculated and this week the over-50 crowd are on deck. The organization, healthcare system, small population, and universal digital health records make Israel a unique candidate for becoming the first country to be fully vaccinated. That goal is expected to be reached by the end of March.

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

GMTT – chart of the day – Crude oil – Jan 11, 2021

Crude (FEB)
Energy could be the trade for January as Crude and XLE are both breaking out!
Crude is on a buy signal and gives a next upside target of 53.60.
XLE gives a next upside target of 43.65.
Suggested sell stop are for Crude 50.25 and for XLE 41.15.

Nat Gas (FEB)
We are still holding Nat Gas long from 2.36 and keep the sell stop at 2.46.
Next upside target 2.82.

GMTT publishes three weekly its GMTT research report covering the following:
Global Indices, VIX, a selection of stocks, Treasury Bond, Commodities, Soft Commodities, Currencies, and Bitcoin.

Sign up for a free 14-day free trial:

GMTT 14 Day Trial

Our View

The Trump Impeachment

The news about impeaching President Trump is a market disruptor but that’s not the only news out this week with only 9 days until Joe Biden’s inauguration. Wednesday is the release of the December consumer prices, Thursday we get a look at China exports and US jobless claims and on Friday we get a look at retail sales which fell in October and November but the December number will show more insight into the severity of the broader economic slowdown at the end of the year and U.S. industrial production is expected to increase in December. It’s going to be a busy week of headline news.

Our view, the impeachments news dragged the ES down on the open and I expected it to be weak throughout the night. With the markets up so much and on new highs I suspect we see lower prices but many times when the ES is down Sunday night it rallies early Monday. Our lean, if the ES is at or near its lows on the open, buy the early weakness using tight stops. If that doesn’t work then I’m going to kick back and get a look at the price action. We all know the ES is at an extreme so it’s not impossible we see another flush/downside stop run. 

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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