Tomorrow we have a big economic calendar, starting with Gallup US Job Creation, Motor Vehicle Sales, MBA Mortgage Application, Challenger Jobs Cut Report, ADP Employment Report, Gallup US Payroll to Population, PMI Manufacturing Index, ISM Manufacturing Index, Construction Spending, and the EIA Petroleum Status Report. Exchange is closed Friday because of the 4th of July […]
The entire financial, political, and economic world has had their eyes on Greece during discussions over the future of the country and this weekend marks a significant moment in those talks. As Greece closed their banking system temporarily we saw Asian stock markets plummet Monday morning with worries about the effect on the global economy […]
Index markets open higher and sell off as Greece talks keep bouncing between resolution and failure, while the European stocks are mimicking the uncertainty as investors await transparency. Neil Mellor, a strategist in London, believes a deal is not certain, but progress has been made this week. This all follows a hard rally earlier this […]
Chicago’s futures traders will get to trade in the pits a little longer… The CME Group (CME), the world’s largest futures and options exchange said it would delay the closure of open outcry futures trading in Chicago and New York by a few days. The pits were previously scheduled to close on July 2. The […]
If I told you this was easy I would be lying. The markets sell off, and everyone thinks the world is coming to an end and that a major correction is under way, and then the next thing you know the S&P futures are ripping higher. Like it or not zero borrowing cost continues to […]
The June Quad Witch fell victim to an S&P futures that used up all its buying power, and the possibility of a Greek default. When I started to write today’s Opening Print, I did so with the idea that as the markets head into the final 7 trading days of the second quarter, some very […]
One of MrTopStep’s trading rules is that “it takes days and weeks to knock the S&P down and only one to bring it back.” For the last several weeks the S&P has been weighed down by the Greek headlines, but Wednesday’s FOMC meeting had traders switching gears to the late afternoon headlines. May I […]
Things change fast in the investing world. Just yesterday some polls showed people thought that the Federal Reserve will raise interest rates twice this year, and four times next year. MrTopStep has remained constant on a few issues, and one of them is the Federal Reserve’s push to raise interest rates this year, and that […]
Know what the ‘D’ is for?…DEFAULT! We all know what happened…On Friday the S&P closed weak, we open lower in Globex, sell off a little more, then rally to close on the upper end of the range. At the end of the day, I still feel the S&P wants to go higher, but the algos […]
THE S&P 500 FUTURES AND THE “GREEK” MESS