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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 6 JUNE: ASX to slip | Apple resets record high, RBA rate call pending | ASX high purity alumina plays |

    Cabrera Capital Daily Game Plan

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

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    Cabrera Capital Daily Game Plan

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 7 JUNE: ASX to rise | $A advances, US stocks edge higher | Requisite has a large landholding and the path forged by others to make its mark on clay-hosted REEs |

    The S&P Needs to Cool Off, but Bulls Keep Buying the Dip

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

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    Remember What We’ve Said About Mondays — Slow & Steady

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 5 JUNE: ASX rallies | banks advance, gold miners tumble | Dimerix raises $8.7 million to advance Phase 3 trial for kidney drug |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 5 JUNE: ASX to surge | RBA policy decision awaited | Lithium trailblazer Iggy Tan is back in the saddle and gearing up for a new James Bay adventure |

    Was Trading on the Floor Easier Than on the Screens?

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 2 JUNE: ASX to rise | S&P 500 lifts in broad rally, techs extend gains | Cannon-Brookes’ Sun Cable win shows the growing appetite for renewables |

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  • Charts
    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 7 JUNE: ASX to rise | $A advances, US stocks edge higher | Requisite has a large landholding and the path forged by others to make its mark on clay-hosted REEs |

    Cabrera Capital Daily Game Plan

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 6 JUNE: ASX drops 1.2pc | Risks of a hard landing have gone up: CBA’s Aird | Austral’s exploration alliance with Glencore could deliver greater copper production |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 6 JUNE: ASX to slip | Apple resets record high, RBA rate call pending | ASX high purity alumina plays |

    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 5 JUNE: ASX rallies | banks advance, gold miners tumble | Dimerix raises $8.7 million to advance Phase 3 trial for kidney drug |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 5 JUNE: ASX to surge | RBA policy decision awaited | Lithium trailblazer Iggy Tan is back in the saddle and gearing up for a new James Bay adventure |

    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 2 JUNE: ASX to rise | S&P 500 lifts in broad rally, techs extend gains | Cannon-Brookes’ Sun Cable win shows the growing appetite for renewables |

  • Commentary
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    • Market Recap
    • MrTopStep

    The S&P Needs to Cool Off, but Bulls Keep Buying the Dip

    Remember What We’ve Said About Mondays — Slow & Steady

    Was Trading on the Floor Easier Than on the Screens?

    The MIM Has Been Dominating the Sell Side

    Use AI-Driven Rally to Reposition For Worst Months

    Bulls Are in Control, But How Sustainable Is the Current Rally?

    Can We Get an Options Squeeze for “Fry-Day?”

    The Selloff Is Putting Us Back Into The Painful Range Trade

    A Few Individual Stock Trades Stand Out

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Home Commentary

TechLand In Trouble

Danny Riley by Danny Riley
March 23, 2018
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Index Futures Net Changes and Settlements:

Contract Settlement Net Change +/-%
S&P 500 (ESM18:CME) 2643.25 -75.00 -2.83%
Dow Jones (YMM18:CBT) 23,963 -764 -3.18%
Nasdaq 100 (NQM18:CME) 6692.00 -192.00 -2.86%
Russell 2000 (RTYM:CME) 1543.90 -40.20 -2.60%

Foreign Markets, Fair Value and Volume:

  • In Asia 11 out of 11 markets closed lower: Shanghai Comp -3.38%, Hang Seng -2.45%, Nikkei -4.51%
  • In Europe 12 out of 12 markets are trading lower: CAC -1.36%, DAX -1.45%, FTSE -0.60%
  • Fair Value: S&P +1.93, NASDAQ +18.19, Dow -4.08
  • Total Volume: 2.5mil ESM, and 797 SPM traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes Raphael Bostic Speaks 8:10 AM ET, Durable Goods Orders 8:30 AM ET, New Home Sales 10:00 AM ET, Neel Kashkari Speaks 10:30 AM ET, Robert Kaplan Speaks 11:30 AM ET, and the Baker-Hughes Rig Count 1:00 PM ET.

S&P 500 Futures: #ES This Isn’t 2017 Folks

Yesterday started with the major European indices down over 1%, dragged down by tech shares, and the S&P 500 futures down -1.15%. On Globex, total volume was 315,000 S7P 500 futures contracts. On the 8:30 CT bell the ES traded 2687.00 and immediately dropped down to 2681.00. From there, the ES shot up to 2693.50, pulled back, and traded up to 2698.25 around 9:15 am. After the high, several big ‘tech sell programs’ hit the Nasdaq 100 futures dragging, the ES all the way down to 2677.75, down 40.25 handles, or -1.46%, and then down to 2672.50.

At 10:20 a headline came out that said “DOWD IS SAID TO RESIGN AS TRUMP’S LEAD LAWYER”, and the ES traded down to a new daily low at 2663.25. The futures then moved back up to 2678.25, sold off down to a higher low at 2671.00, and ratcheted up to 2691.75. As the MiM went to $1.3 billion to sell at 2:44 the ES traded down to 2652.25, and then down to 2642.00 when the 2:45 cash imbalance came out showing $2.4 billion for sale. After the imbalance the ES rallied up to 2652.00, sold off down to 2643.75, traded 2648.25 on the 3:00 cash close, and went on to settle at 2643.75, down -2.73%.

All I am going to say is, here is a copy of yesterday’s view:

Our view is that we lean to buying the early weakness and selling the rallies. Right now the pattern that sticks out the most is one thing… failed rallies. Will that change? It could, but it seems like the markets are just waiting on the next bad headline.

United States Steel Corporation (NYSE: X)

Look at the U.S. Steel Corp. charts. One would think the stock would be going up, but its not. The first chart is a monthly, and the second chart is adaily. The stock was trading $46.00 in early march, and as of yesterday, made a low at 34.48 and closed at $34.50, down -$4.26, or -10.99%, down 1.96% year to date. Metals ETF’s had their worst trading day in a year and a half on trade concerns. This may be a temporary bump in the road, but on March 9 JP Morgan raised its stock target price of U.S. Steel Corp from $48.00 to $69.00, and the trade wars are just starting.

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As always, please use protective buy and sell stops when trading futures and options.

Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

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