Neither rain, nor sleet, not hail can keep the S&P from going up.

The S&P futures have closed higher 14 out of the first 18 trading days of the new year or has closed higher 12 out of the last 13 days or up 9 in a row.

This desk has has not seen this type of price action since the days before the 1987 Crash.

SPH high 1499.00 (1500.00 in GLOBEX)
SPH low 1491.50 early
SPH last 149

Total volume 1.25mil ESH and 3k SPH trade

MOC : 18 of the DOW 30 to buy / MOC buy $345mil

Tomorrow: First day of the FOMC meeting, Redbook, S&P Shiller Case, 5 yr note auction

Watch Video  

Cha- Ching Goes the Stock Market….

We hear that a lot of the big funds are chasing the early year returns. Over 48bil has gone into stock funds in the first 3 weeks of the new year.

Year to date the Dow is up 5.26%, S&P up 4.85%, NASDAQ up 4.55% and the Russell is up 5.73%.

SPH high 1491.00
SPH low 1484.70
SPH last 14

Total volume : 1.2mil and 4k SPH traded

MOC : 15 of the DOW 30 / MOC BUY $500mil

Tomorrow’s economic releases : Jobless Claims, PMI, Leading Indicators, API and Nat Gas numbers, KC Fed Mfg. index and a 2yr, 5yr and a 7 yr note auction

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2013 and the S&P :

Including today the S&P futures have closed higher 11 out of the first 14 trading days of the year. On a shorter time frame the S&P futures have closed higher 8 out of the last 9 sessions or have closed higher 5 out of the last 5 trading days.

SPH  high   1486.80  late
SPH  low    1476.00  early 
SPH close  1486.50  last, up 7.6 handles  

MOC : 23 of the DOW 30 to BUY / MOC buy 850mil (was 750)

Total volume: LOW 1.35mil but 400k of that volume came from GLOBEX and 4k SPHs traded in the pit

Today we have GOOG reporting after the close and AAPL tomorrow, there has to be some surprises there..  

Tomorrows economic calendar : MBA Purchase Apps, Redbook, FHFA House Price Index and a 4 week bill auction

Can you say bump and Grind? We can because thats exactly what we are seeing here in the S&Ps.

SPH high 1468.90   late in the day
SPH low  1462.20   early
SPH last 1466.10, up .90 handles

Total volume : 1.2mil ESH and 4k SPH trade in the pit

MOC : 18 of the DOW 30 to buy / MOC BUY $565mil

Tomorroow: Housing Starts , Jobless Claims, Industrial Production, Nat Gas numbers and the Philly Fed.

No volume anywhere as traders are worried about the budget

Larry Shover / Larryshover.com

CME asset class volatilities were generally unchanged on the day, with the exception of oil, which did catch a bid and remained elevated throughout the trading session. Gold volatility was bid up quite nicely in the morning — thanks to a 7,800 futures sell order on the open — yet settled near the flat-line on the day. Two auctions didn’t cause any movement in the interest sector, and equity volatility fluctuated around unchanged, awaiting news from Washington DC.

**Filmed on the trading floor at the CME Group. Produced by Mr Top Step Productions.