‘The S&P 500 Futures: Complacency and Destroying The Status Quo’

Charts, Commentary, News, Stocks, Technical Analysis, The Closing Print, Video

HIGH: 2272.50 Early
LOW: 2262.25 Mid Morning
LAST: 2263.75 DOWN 12.75 Handles
TOTAL VOLUME: 1.1 mil minis, with 200k from Globex
MOC: Still Early

Bank Reserve Settlement, Motor Vehicle Sales, MBA Mortgage Applications, ADP Employment Report, Gallup U.S. Job Creation Index, a 3-Yr Note Announcement, a 10-Yr Note Announcement, a 30-Yr Bond Announcement, Treasury Refunding Announcement, PMI Manufacturing Index, ISM Mfg Index, Construction Spending, EIA Petroleum Status Report, and the FOMC Meeting Announcement.
They’re selling the big names and buying the small names. Everyone keeps buying the dips, and I think that it’s going to bite us in the behind very soon.

Has the dam broke? I think it has. Im excited, but Im also a little scared. We are going to see some wild swings this year.

Im a Bull, but Im no fool!

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Danny Riley (3417 Posts)

Danny Riley has worked in the futures and options industry for 38 years, including the CBOT’s bond room, where he worked for several of the Market Wizards. He went on to build the largest volume desk in the S&P 500 Index Futures, serving some of the largest banks and hedge funds, the UBS program trading business, and some of the world's top individual traders. As a leader and co-creator of the MrTopStep IM-Pro Trading Room, he shares trading ideas and breaking market news live from the floor with our other professional traders and new traders eager to experience the power of collective intelligence. Join us today and get the edge only social trading can give you.

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