Do you really think the S&P is going down? Look at the bonds, they are down 26 ticks and the S&Ps are trading on the upper end of the trading range,.
SPH high 1508.20
SPH low 1500.30
SPH last 1507.50, up 1.6 handles
Total volume : 1.7mil ESH and 3.5k SPHs trade
MOC : DOW 30 mixed / MOC buy 520mil
Tomorrow: Chain Store Sales, Charles Evens Speaks, Jobless Claims, Productivity & Cost, Nat Gas, Consumer Credit, Fed Balance Sheet and Money Supply.
When in doubt? Buy more!!! Thats how this has worked year. Whether its a 4 handle sell off or a 14 handle sell off…
They call that “back and fill” until they spill.
SPH high 1510.80
SPH low 1499.20
SPH last 1506.00 , +12.6 handes
Total volume: 1.65mil ESH and 3k SPH trade in the pit
MOC : 21 of the DOW 30 to buy (small) and MOC buy $25mil
Tomorrow: MBA Purchase Apps. Treasury Budget, 3ry ad a 5 yr not auction and a 30 YEAR BOND announcement
The S&P made a new high but there was just not enough buying left for late in the day to hold the ESH up on the highs.
As of today’s close the S&P futures have closed higher 16 out of the last 23 trading days or up 11 out of the last 14.
SPH high 1501.50 after the open
SPH low 1490.50 late in the day
SPH last 1491.00, down 15.7 handles
Total volume: 1.6mil ESH and 3k SPH trade in the pit
MOC : 22 of the DOW 30 for sale / MOC buy 140mil
Tomorrow: Elizabeth Duke speaks,Redbook, ISM Mfg. Index
Remember, the S&P made its early high on April 2nd up 12% so seeing the S&P down today after being up 6% on in the first month of the year says smart money is taking some profits.
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
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
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.
MrTopStep’s Eubie and OptionsProfits Jill Malandrino discuss Futures basics…From Trading Rules to Trading Extremes and Risk Profiles
Jack Broz talks about service options and benefits.
Small range in GLOBEX and the day session
SPU high 1416.00
SPU low 1412.20
SPU last 1414.50 , up 1.4 handles
Michigan Sentiment and Industrial Production come in better than expected, SPU rallies up to 1415.00 and than sold off a bit.
S&P cash study up 15 / down 13 of the last 28 occasions
We think we could be in for some profit taking…
MrTopStep’s Stephen “EUBIE” Eubanks at Nasdaq with OptionsProfits Jill Malandrino look at trading trends in the SPX. Watching the headline driven market and the bus getting a little full. Embrace volatility.