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

    PEAK ASSET: ARVO WRAP 7 December: Oil stocks drag down ASX | Chemist Warehouse set for $8bn ASX listing via Sigma deal | Boss Energy poised for global uranium production after acquiring stake in Alta Mesa project |

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

    PEAK ASSET: MORNING WRAP 7 December: ASX to fall | Dow +0.04% S&P -0.1% Nasdaq -0.2% | US oil was 4.1 per cent lower |

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

    PEAK ASSET: ARVO WRAP 6 December: ASX up almost 2pc as iron ore, lithium miners jump; Evolution Mining down 14pc | Phase 3 extension on the cards as Latin’s Salinas resource vaults 56pc |

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

    PEAK ASSET: ARVO WRAP 5 December: Shares chartered their worst one-day decline in more than a month | Reserve Bank of Australia’s decision to leave rates at 4.35 per cent |

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

    PEAK ASSET: MORNING WRAP 5 December: ASX to fall, Wall Street rally hits a wall | Hillgrove’s ‘rotainers’ have arrived at Port Adelaide | 30 years ago, a disruptive tech devastated copper prices. It could be about to happen again |

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

    PEAK ASSET: ARVO WRAP 4 December: Shares rally as gold hits all-time high, Bitcoin above US$40k for first time this year | ADX Energy extends collaboration with MND through farm-out of gas exploration prospects in Upper Austria |

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

    PEAK ASSET: MORNING WRAP 4 December: ASX to jump higher | S&P/ASX 200 futures were tipping a 65-point, or 0.9 per cent jump | Gold: US$2,071.25 (+1.68%) |

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

    PEAK ASSET: ARVO WRAP 1 December: A Friday fizzer for Aussie markets as energy and tech stocks drag | Mitre Mining acquires transformational Chilean silver-gold project |

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

    PEAK ASSET: MORNING WRAP 1 December: ASX to open lower | Dow +1% S&P -0.1% Nasdaq -0.7% | Spot gold -0.5% to $US2034 |

    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: ARVO WRAP 7 December: Oil stocks drag down ASX | Chemist Warehouse set for $8bn ASX listing via Sigma deal | Boss Energy poised for global uranium production after acquiring stake in Alta Mesa project |

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

    PEAK ASSET: MORNING WRAP 7 December: ASX to fall | Dow +0.04% S&P -0.1% Nasdaq -0.2% | US oil was 4.1 per cent lower |

    Daily Game Plan

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

    PEAK ASSET: ARVO WRAP 6 December: ASX up almost 2pc as iron ore, lithium miners jump; Evolution Mining down 14pc | Phase 3 extension on the cards as Latin’s Salinas resource vaults 56pc |

    Daily Game Plan

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

    PEAK ASSET: ARVO WRAP 5 December: Shares chartered their worst one-day decline in more than a month | Reserve Bank of Australia’s decision to leave rates at 4.35 per cent |

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

    PEAK ASSET: MORNING WRAP 5 December: ASX to fall, Wall Street rally hits a wall | Hillgrove’s ‘rotainers’ have arrived at Port Adelaide | 30 years ago, a disruptive tech devastated copper prices. It could be about to happen again |

    Daily Game Plan

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

    PEAK ASSET: ARVO WRAP 4 December: Shares rally as gold hits all-time high, Bitcoin above US$40k for first time this year | ADX Energy extends collaboration with MND through farm-out of gas exploration prospects in Upper Austria |

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    CME Loses Key Battle in Potentially Costly Trader Lawsuit

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    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

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

    PEAK ASSET: ARVO WRAP 7 December: Oil stocks drag down ASX | Chemist Warehouse set for $8bn ASX listing via Sigma deal | Boss Energy poised for global uranium production after acquiring stake in Alta Mesa project |

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

    PEAK ASSET: MORNING WRAP 7 December: ASX to fall | Dow +0.04% S&P -0.1% Nasdaq -0.2% | US oil was 4.1 per cent lower |

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

    PEAK ASSET: ARVO WRAP 6 December: ASX up almost 2pc as iron ore, lithium miners jump; Evolution Mining down 14pc | Phase 3 extension on the cards as Latin’s Salinas resource vaults 56pc |

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

    PEAK ASSET: ARVO WRAP 5 December: Shares chartered their worst one-day decline in more than a month | Reserve Bank of Australia’s decision to leave rates at 4.35 per cent |

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

    PEAK ASSET: MORNING WRAP 5 December: ASX to fall, Wall Street rally hits a wall | Hillgrove’s ‘rotainers’ have arrived at Port Adelaide | 30 years ago, a disruptive tech devastated copper prices. It could be about to happen again |

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

    PEAK ASSET: ARVO WRAP 4 December: Shares rally as gold hits all-time high, Bitcoin above US$40k for first time this year | ADX Energy extends collaboration with MND through farm-out of gas exploration prospects in Upper Austria |

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

    PEAK ASSET: MORNING WRAP 4 December: ASX to jump higher | S&P/ASX 200 futures were tipping a 65-point, or 0.9 per cent jump | Gold: US$2,071.25 (+1.68%) |

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

    PEAK ASSET: ARVO WRAP 1 December: A Friday fizzer for Aussie markets as energy and tech stocks drag | Mitre Mining acquires transformational Chilean silver-gold project |

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

    PEAK ASSET: MORNING WRAP 1 December: ASX to open lower | Dow +1% S&P -0.1% Nasdaq -0.7% | Spot gold -0.5% to $US2034 |

    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: ARVO WRAP 7 December: Oil stocks drag down ASX | Chemist Warehouse set for $8bn ASX listing via Sigma deal | Boss Energy poised for global uranium production after acquiring stake in Alta Mesa project |

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

    PEAK ASSET: MORNING WRAP 7 December: ASX to fall | Dow +0.04% S&P -0.1% Nasdaq -0.2% | US oil was 4.1 per cent lower |

    Daily Game Plan

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

    PEAK ASSET: ARVO WRAP 6 December: ASX up almost 2pc as iron ore, lithium miners jump; Evolution Mining down 14pc | Phase 3 extension on the cards as Latin’s Salinas resource vaults 56pc |

    Daily Game Plan

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

    PEAK ASSET: ARVO WRAP 5 December: Shares chartered their worst one-day decline in more than a month | Reserve Bank of Australia’s decision to leave rates at 4.35 per cent |

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

    PEAK ASSET: MORNING WRAP 5 December: ASX to fall, Wall Street rally hits a wall | Hillgrove’s ‘rotainers’ have arrived at Port Adelaide | 30 years ago, a disruptive tech devastated copper prices. It could be about to happen again |

    Daily Game Plan

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

    PEAK ASSET: ARVO WRAP 4 December: Shares rally as gold hits all-time high, Bitcoin above US$40k for first time this year | ADX Energy extends collaboration with MND through farm-out of gas exploration prospects in Upper Austria |

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    Do We Have a “Good” Low or Is This a Setup?

    Do We Have a “Good” Low or Is This a Setup?

    August Opex: Will Things Get Ugly?

    Are We Setting Up for an Opex Bounce?

    S&P Sits at Key Support as Trends Turn Bearish

    Correction Continues As Recent Lows Are on Watch

    Bulls Are Looking for a Bounce After Slow Start to August

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    Stocks Under Pressure Early on Friday. Can We Get a Low?

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Home Commentary

OP: Stock Market Fatigue Continues

Danny Riley by Danny Riley
April 20, 2021
in Commentary, MrTopStep, News
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OP: Stock Market Fatigue Continues
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Market Review

S&P 500 Futures Recap – Trade Date April 19, 2021

Chart by AMS Trading Group

Economic Calendar


Closing Prices


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Chart of the Day

Small-Cap ‘Index Effect’ Lifts Domtar, Other S&P Entrants

Domtar Inc. is the latest example of how the “index effect” is alive and well for smaller U.S. companies. The paper producer gained 4.9% Friday after being named to the S&P SmallCap 600 Index, which it will join before Tuesday’s open. Domtar will be the 13th all-new entrant this year, according to data compiled by Bloomberg. The other 12 all rose on the first day of trading after their selection on anticipation that funds tracking the SmallCap 600 would buy shares. The group had an average first-day advance of about 11%, and Domtar’s was the smallest.


Our View

Stock Market Fatigue

Everything gets tired eventually. The S&P was up over 5.5% at its April highs, but the index has battle fatigue. 

Over the weekend, people worried that the big drop in Bitcoin would affect the S&P futures (ESM21:CME) adversely — but it didn’t.  The reason the ES dropped was becauseTSLA and Peloton were weak, bonds were weak, and professional traders are selling into the earnings reports even though the S&P is trading at new all-time highs. From my perspective, the S&P is well overdue for a pullback as stocks have acted fatigued this week. 

Traders have been comparing the S&P rally to the weeks leading up to the 1987 Crash and the 2000 Tech Bubble, but this rally is so much larger they pale in comparison. Additionally, the historical amount of liquidity being supplied by the Federal Reserve and the government stimulus programs have the markets melting higher. 

That said, investors are nervous..

When I spoke to PitBull today, he reiterated what he said last week: “Record highs on negative breadth and low volume is dangerous.”

He also said everyone is long on all the hot names. The big concern on investors’ minds going into earrings season is whether stocks’ high valuations are justified. As of last Friday’s close, 81% of S&P 500 companies that have reported first-quarter earnings have exceeded analysts expectations, while 84% have beat expectations for sales, according to FactSet.

There is a tendency for analysts to talk about slower growth, but as more people get back to work and the economy opens up, I think earnings growth will continue. A lot of optimism has come from the latest economic data, with retail sales for March being the strongest in 10 months. 

Can the markets keep going up? I believe so, but I also understand how far they have gone in the first 12 trading sessions of April. 

Our View: I am maintaining a bullish bias but that doesn’t mean “you” can’t sell the early rallies and buy the pullbacks. I just prefer the latter. 

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.

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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