Charles St Research – $7 CPL
Buyer Beware: The rise (and fall) of Bitcoin
Two likely scenarios are about to play out for the world’s leading cryptocurrency in the next few months.
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Index Futures Net Changes and Settlements:
| Contract | Settlement | Net Change | +/-% |
| S&P 500 (ESZ18:CME) | 2919.00 | -1.00 | -0.03% |
| DowJones (YMZ18:CBT) | 26,476 | +3 | +0.01% |
| Nasdaq 100 (NQZ18:CME) | 7655.25 | -2.00 | -0.02% |
| Russell 2000 (RTYZ17:CME) | 1700.80 | +4.30 | +0.25% |
Foreign Markets, Fair Value and Volume:
- In Asia 5 out of 11 markets closed higher: Shanghai Comp +1.06%, Hang Seng +0.26%, Nikkei +0.52%
- In Europe 10 out of 13 markets are trading higher: CAC +0.27%, DAX +0.51%, FTSE +0.04%
- Fair Value: S&P +4.53, NASDAQ +25.27, Dow +11.71
- Total Volume: 1.41mil ESZ & 360 SPZ traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Raphael Bostic Speaks 8:30 AM ET, PMI Manufacturing Index 9:45 AM ET, ISM Mfg Index 10:00 AM ET, Construction Spending 10:00 AM ET, Neel Kashkari Speaks 11:00 AM ET, and Eric Rosengren Speaks 12:15 PM ET.
S&P 500 Futures: Quiet End of Quarter Trade
After drifting lower in the overnight trade down to 2908.00, the S&P 500 futures opened Friday’s regular session at 2912.50, and made a low of 2912.00 right after the bell. The benchmark futures rallied throughout the morning pushing up to an early high of day at 2929.50 just after 10:00.
From there, the ESZ pulled back to a late morning low of 2915.50 just before noon, and then rallied up to 2924.00 just before 1:00 pm. Late in the day the ES chopped lower, making a 2916.00 print, before trading 2919.00 at 3:00, and then settling the day at 2920.25, up a single tick on the day.
In the end, the quarter wrapped up in a quiet way with consistent two sided price action this week, buying early and then selling the rally. The historically weak month of September came and went, and the S&P 500 hit a new all time high. We are watching early October to see if the money that left late in September returns.
Stock Traders Almanac – October 2018 Strategy Calendar
Hey Everyone,
The first thing I do every morning to prepare for the trading day is look at the Stock Traders Almanac. It has been part of my daily ritual for over 30 years. You can pick up a copy using the link below.
Danny Riley
Learn more about Stock Traders Almanac Here
SIGN UP HERE TO GET THE FULL MRTOPSTEP OPENING PRINT!
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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