Tomorrow we have Esther George, Jeffrey Lacker and Loretta Mester from the Fed speaking, Redbook, S&P Case-Shiller HPI, Chicago PMI and Consumer Confidence. The mutual funds love using the shorts when they start buying… After gapping higher and rallying we know the Mutual Funds were back. Friday the Markets are closed for Good Friday. How […]
It has not been easy for the S&P this year. After the first 55 trading days in 2015 the S&P is struggling as it heads into the end of the first quarter 2015 rebalance. So far it’s seen nothing but selling. Every day last week there was a net sell imbalance on the close […]
Next week IS BIG…The Final 2 trading days of the first quarter, 25 separate economic releases, 10 T-bill or T-Bond Auctions or Announcements, 8 Fed Federal Reserve Bank Presidents speak and the March jobs report. Monday starts withPersonal Income and Outlays, Pending Home Sales, Dallas Fed Mfg Survey, Farm Prices and Stanley Fisher speaking. Choppy […]
After making a 2033.25 low in Globex Wednesday night, the S&P futures (ESM15:CME) did as it often does and went quiet. Later in the morning, it short covered just before the S&P opened at 8:30 CT. After a few attempts on the downside, the S&P futures started to short cover, hitting buy stops all […]
S&P 500 futures have closed lower 4 out of the last 5 sessions or down 3 in a row The CME Groups S&P 500 e-mini futures (ESH15:CME) made an early high of 2089, and then resumed its current course: downward. As the big mutual and investment funds start their end-of-the-quarter adjustments, the big funds […]
Tomorrow we have St Louis Federal Reserve Bank President James Bullard’s speech on the economy and monetary policy in Frankfurt, Germany, Jobless Claims, Atlanta Federal Reserve Bank President President Dennis Lockhart to discuss monetary policy and economic outlook in Detroit, PMI Services Flash, EIA Natural Gas Report, Kansas City Fed Manufacturing Index, 7 Yr-Note Auction, […]
Euro back above 109, Crude oil unchanged, gold up $5.20, Bonds up over a full point. Tomorrow we have Charles Evans from the fed speaking, MBA Mortgage Applications, Durable Goods Orders, EIA Petroleum Status Report and a 5 Yr Note Auction. OK, we got past the terrible December Quad Witching but we are faced with […]
Last week as a whole fit another one of the MrTopStep trading rules. It’s called “up a day, down a day during the expiration.” While many traders may not pay attention to this rule, it was something that the PitBull, Marty Schwartz, taught me a long time ago. The actual up-down price action started the […]
The S&P 500 futures did pretty much like we expected it to do yesterday; it sold off. While we did say there were no rules when it comes to trading the S&P, MrTopStep actually lives by certain trading rules, and the one we called for yesterday was that the “S&P tends to go sideways […]
Short Week and a Short Squeeze for the S&P Futures