Tomorrow we have MBA Purchase Applications, Richard Fisher speaks, EIA Petroleum Status Report, 10 Yr-Note Auction, Treasury Budget. The earnings season is starting to wind down; tomorrow we have Cisco Systems, AMAT, NTAP and NVDA, the Greek government is supposed to provide the specifics of its Economic plan and Ukraine, France, Germany and Russia are set to meet in Minsk.
A better look at the February options expiration stats show the ESH being firm from Friday to next Tuesday and I am starting to get the feeling the S&P is getting ready to run some further upside stops, like up to 2075-2080.
Today’s trade was a great example of two things:
1) Thin to win. No volume and
2) The S&P has to go down to go back up.
Still think we are heading for more volatility but I also get the feeling the S&P has been back and filling.
A couple off weeks ago they had the bulls scared and now they have the shorts running scared… This too shall pass.
High: 2065.20 Late
Low: 2043.50 Early
Last: 2064.70 Up 22.3 handles
Volume: 1.3mil ESH and 5k SPH traded in the pit… The only futures pit I will remind you of.
MOC: MiM showing Sell $184mil actual came out MOC buy $20mil
—
MrTopStep Group
https://mrtopstep.com
Questions: info@mrtopstep.com
Follow Us On Facebook and Twitter For More Intra-Day Market Updates!
https://www.facebook.com/mrtopstep
https://twitter.com/MrTopStep (@MrTopStep)
Dont Forget To Subscribe To Our YouTube Channel!
Sign Up Here: http://www.youtube.com/mrtopstepgroup
No responses yet