“S&P 500 Futures and the Pre-Fed Chop”

on March 17, 2015

Tomorrow we have MBA Mortgage Applications, EIA Petroleum Index, 2:00 ET FOMC Meeting Announcement and Forecasts, 2:30 ET Federal Reserve Chair Press Conference.

I said early on that I thought the ESH would trade up to 2075 but I didn’t know we had to drop down to 2057 first!!!

I actually bought 2057s but only made 4 handles.

The trade was probably more than most people expected for a fed day.

1:00pm CT FOMC Meeting Announcement and Forecasts, 2:30 ET Federal Reserve Chair Press Conferences.
We think the Fed will drop Its ‘Patient’ Stance? And make it more data related.

High: 2070.50 Late
Low: 2056.50 Mid-day
Last: 2066.60 Down 21 Handles
Volume: 1.7 mil ESM, 900k ESH and 34 k SPM and 37k SPH trade in the pit .. all spreads.
MOC: MiM started showing $300mil for sale, actual was buy $600mil.

—
MrTopStep Group
https://mrtopstep.com