MrTopStep

While we expected a Friday spillover to Monday, it became clear yesterday, after a 4-point gain on the open, that the S&P 500 needed to “back and fill” before going further up....

What we saw today was the back-and-fill we spoke about in this morning’s Our View. The market needed to let more buyers get in at lower prices in order to build up pressure to the upside. The...

The market was inching up, but the S&P has a long history of waiting until everyone is sure it’s going to go one way and then going in the opposite direction. It’s always a test...

10 days ago, the financial press was pushing talk of a bigger downturn or even a crash after a 95-point drop from the all-time high of 1985.25 (ESU14:CME). 10 days and 90 points later, we are looking...

The S&P 500 futures made the most of their 14.5 point gain by midmorning yesterday, staying in a 2-handle range for the last four hours of the trading day. It was a classic “thin to...

HIGH: 1961.00 EarlyLOW: 1937.50 Mid-MorningLAST: 1950.50 DOWN 3 HandlesTOTAL VOLUME: 1.7mil minis; 3.5k bigsMOC: SELL $220milThe geo-political /global turmoil is going to overtake next weeks economic...

After spending since August 3 in a range between roughly $96.50 and $98.50, Crude Oil futures dropped by $2 a barrel today in heavy trading. Both the news from Iraq and basic supply and demand...

What can we say that we didn’t say during the day as it happened? We said in the View this morning that 1943 was the level to break and there wiould be buy stops above it. Just before 10am, the...

After the big 50-point Friday-Monday rally, we aren’t surprised to see some sideways action yesterday. With Twitter rumors about Iraq and tension in Gaza and Ukraine, traders found plenty of...

With the Asian and European markets generally down overnight, the Emini S&P hit a low of 1890 overnight, then spent the day rallying. In the end, it rose a full 21 points. Traders took comfort in...

As I said in today’s Opening Print, the stock market did continue its downtrend, but not without over 10 handles of short-covering and perhaps some new buying. Once the...

Stocks continued to follow Crude Oil's drop. Gold went back to its status as a flight to safety, rallying 23 points today. Bonds also pushed up briefly above 139’00, resuming its...

HIGH: 1925.30 LOW: 1915.50 LAST: 1921.20 UP 2.7 Handles TOTAL VOLUME: 925k minis; 1k bigs Where is all the weakness coming from? Sure it's selling the good news/earnings, but have you gotten a look at...

The S&P has to go down before it makes a major move up. Today the market broke below support at 1960 to make a one-week low at 1956.50. We saw traders selling good earnings beginning last...

Funds typically mark up stocks on the last day of the month and through the first three days of the new month. Ahead of that, we often see strong liquidation as well as buying at the lows....

We saw the S&P 500 do what we discussed in this morning’s Opening Print: sellers and buyers in a dance back and forth. After a 10-handle selloff on the open, the market found support...