Next week should be a busier week, there are a total of 27 economic releases, 14 T-bill or T-bond auctions or announcements, Janet Yellen speaks, 4 Federal Reserve Bank Presidents speak and the February Jobs number on Friday. Monday starts with Personal Income and Outlays, Gallup US Consumer Spending Measure, PMI Manufacturing Index, ISM Mfg. […]
With the S&P going up so much this month and making good of all the negatives, crude oil has has been off the short list lately. After the CME Group’s crude oil futures (CLJ15:NYM) rallied from their $44.37 low up to 55.05, the oil bulls came out in force, but with OPEC unable to agree […]
Tomorrow is the biggest day of the week… Lots of fed speak… William Dudley speaks, Loretta Mester speaks, Stanly Fisher speaks, GDP, Chicago PMI, Consumer Credit and Pending Home Sales. Crude oil dragged the S&P down Hitting sell stops under 2105.70 down to 2101.50 – initial sell stops go down to 2096 and then […]
Over 7 years ago when we started MrTopStep, we did it with the idea of doing something different, and I think we have. People from all over the world make up our followers. There is a common bond between traders and it’s called sharing, which is what MrTopStep.com is all about. According to Webster’s […]
Chart by @ChicagoStock In the old days, traders in the CME Group’s S&P 500 pit and the NYSE would always cheer new contract highs, but after the credit crisis blew most people’s retirement accounts, fewer people are trading. The big banks and brokerage firms do not want to admit it, but the downturn has not […]
Tomorrow we have the MBA Purchase Applications, New Home Sales, Janet Yellen speaks, EIA Petroleum Status Report and a 5 Yr-Note Auction. Total Thin to win type trade. Get the morning sell off and then the mutual funds come right in buying until the close. Who can fight this? I am starting to think we […]
Mondays are notoriously slow for the CME Group’s equity futures, but yesterday was an extreme example. After the open the S&P futures (ESH15:CME) the Nasdaq futures (NQH15:CME) and the Dow futures (YMH15:CBT) sold off a little and rallied a little. MrTopStep has many trading rules to describe the market action, and the one that […]
In the new world trading order, one of MrTopStep’s trading rules stands out above the others: “No stops go untouched in the S&P 500 futures.” Yesterday, after 3 days of multiple attempts to take out S&P futures 2100.00 and several highs at the 2098 to 2099 level, the S&P finally blew through and took […]
MrTopStep.com Hosts Rare Webinar with Original Market Wizard Marty “PitBull” Schwartz