"S&P Down Side Chop Shop"

on March 24, 2015

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 the final days of the 1st quarter, T+3 and the end of the quarter rebalances.

The recent pattern has been to sell right into the final trading day and then start putting the money back to work on the first trading days of the new quarter.

Very important to pick up on what the big firms will be doing and what adjustments they have make between stocks and bonds.

Recently we have seen selling on the final days of the quarter and then buying on the first days of the new month / new quarter.

Including tomorrow there are 5 trading days left in the quarter.

High: 2099.50 Mid-Morning
Low: 2084.80 Late
Last: 2085.00 Down 9.8 Handles
Volume: Better Today…1.2 mil ESM and 1.4 k SPM traded in the pit.
MOC: MiM showed $313mil for sale; Actual MOC Sell $340mil.

—

MrTopStep Group
https://mrtopstep.com