"S&P 500 Futures; The Dip and the RIP"

on April 20, 2015

S&P Kung Fu Fighting.

Tomorrow we have Redbook, a 4 Week T-bill Auction, and some big name earnings reports.

News algos stretched out the S&P too far on the downside last Friday on big volume and then thin to win takes back over with a 33 point rally off Fridays lows.
-Made a low at 2064.50
-Rallied 10 handles off of Friday low
-Rallied 14 handles in Globex overnight and
-Rallies up to 2097.00 late in the days, up 33 handles off Fridays low, with good size volume showing up on the close.

All about volumes; when its big its going down and when its up the volume falls off.

I have a secret to tell you about the S&Ps…Its very important information…S&Ps not going up or down sharply.

It’s going nowhere fast..

High: 2097.50 Mid-Morning
Low: 2085.00 On the Open
Last: 2093.50 UP 18 Handles
Volume: Maybe 1.1 mil ESM, and 2.2k SPM traded in the pit.
MOC: MiM showed Sell $408mil ACTUAL was MOC sell $500mil.

—
MrTopStep Group
https://mrtopstep.com