Today started with 1694.50 – 1694.20 215k ESZ traded on Globex, SPZ trading range was 1695.25 – 1689.50. Monday’s regular trading hours (RTH’s), SPZ pit session trading range was 1700.80 – 1702.00 before settling at 1692.70 down 9.7 handles. In Asia, 8 of 11 markets closed lower: Shanghai Comp. -0.61%, Hang Seng -0.82% , Nikkei -0.07%. In Europe, 11 out of 12 markets are trading higher: DAX +0.27%, FTSE +0.26%. Roger_Volz (05:22) German Ifo business climate rises to 107.7 in September, below forecasts, nicks eurusd…Applied Materials ($AMAT), Tokyo Electron Enter Merger Agreement…Lennar beats by $0.08, beats on revenues. / 1690.75>1691.75…volume chart showing long wicks v 1690.50 from 1:25am / global equities fractionals greece leading EU. Jim_M (06:40) Value Area High 1697.75 / Value Area Low 1693.25 / Point of Control 1695.75 / Pivot 1694.83 http://bit.ly/1ba1ujq
Today’s December S&P 500 (SPZ) pit session opened 1.5 handles higher to 1694.50 – 1694.20 before fading back to 1688.00 by 9:19 and quietly grinding higher throughout the morning – trading an intraday high of 1701.00 at 12:49. The sideways to lower trade set in and the SPZ was retesting the opening range at 2:30.
william_blount (08:37) WE ARE SQUIGGLING at the TIGHT TVALS– as write (in the pre-market commentary) — the SPILL PRESSURE IS UP as written — if we take out the T’S and reject the 1697 spot to roundy the BEARS may get their dreams come true – through the ROUNDY the NEXT big deal is tied to the 1702.5 SPOT because of the AUG 2 CASH HIGH.
Match this up to your charts >> The early look on the closing imbalance showed (14:03) MiM – MrTopStep Imbalance Meter showing 77% sell side $225mil to sell. (14:20) MiM – MrTopStep Imbalance Meter showing 86% sell side $589mil to sell. At 2:47 the SPZ was trading 1692 area when the closing imbalance showed a small $830M imbalance to the sell side. The cash close traded 1691.10 area before settling at 1692.50, down 9.7 handles on the 3:15 futures close.
McConnell’s Deal-Making Yields to Politicking — But as Congress trudges toward its next budget showdown, the Mr. Fix-It of Washington is looking more like its Invisible Man as he balances his leadership imperatives with his re-election. “The House and the White House in the end will have to reach some kind of understanding on both these issues,” Mr. McConnell said last week as he sat in his spacious Capitol office and looked toward Sept. 30, when much of the federal government runs out of money, and mid-October, when it exhausts its borrowing authority. “I don’t intend to participate in any discussion, publicly or privately, that raises taxes or spends more than current law.” http://nyti.ms/19x0y3a
Saturday’s MrTopStep webinar – An inside look at our “Collective Intelligence” featuring Jack Broz, Kathy Garber and Frank Ochoa – was very well received! A big shoutout to the MrTopStep “Collective Intelligence” group, as well as to those that were able to attend. We thank all of you for your time and efforts and hope to see you in the “Boot Camp”!