Blog post

30-MAR-2015 | Monday’s Morning Briefing

S&P futures traded higher during Sunday's globex session.

After pulling back to 2048 at Sunday's Globex open, S&P futures re-tested Friday's high at or near 2058-2060, auctioning up initially to 2062.

The re-test of Friday's high and the modest range extension was followed by a pull-back to what had been the prior resistance at 2058-2057.

The pull-back held support and S&P futures traded up to 2068-2070, the down-side acceleration point of last Wednesday's decline.

Thus, coming into Monday's session, the S&P is likely to open with a "gap" above Friday's close.

Sunday's globex high is 37 points above Wednesday's low and 28 points above Friday's low at 2044.

The question is, will the minor pull-back to prior resistance hold and buying interest continue to auction the S&P above the overnight globex high.

Technically, the market development that followed last week's 74 point sell-off has spent a sufficient amount of time, approximately 3 days, for buyers to have established new positions.

Additionally, there have been a sufficient number of rotational sequences within the near term 3 day trading range.

The rotational sequences are:

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27-MAR-2015Friday’s Morning Briefing

The major U.S. benchmark traded lower on Thursday.  

The Dow closed at 17687: down -40 points (0.23%).  The Nasdaq Composite ended the session at 4863: down -13 points (0.27%). The Broad benchmark S&P 500 finished the session at 2056: down -5 points (0.24%).

On the NYSE, declining issues (4148) outnumbered advancing issues (2565): 58% to 36%.

S&P futures sold down -73 points (2.9%) below 2107. The sell-off, as described in yesterday’s commentary was a “rout of the trading range”, as one directional sell-off without a minor retracement.

The initial retracement occured during Thruway’s open when the S&P rallied 17 points above the overnight low at 2033 and traded up

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TradeOps | Daily Capital Risk Policy

One lesson from our beta testing of TradeOps is that neither our clients, or we, like undue risk.

Neither do any of us like unecessary uncertainty.

To manage undue risk and uncertainty, we are implementing a policy that the maximum daily loss for each TradeOps TO.BD.S1 subscription for the forward e-Mini S&P futures contract will be limited to $1,500.

This policy will be implemented via software controls.

We will be updating our software so that if a daily capital loss reaches $1,500 for TO.BD.S1, all client posistions will be liquidated at market, and also, trading will cease for the day for that trading subscription.

We envision that the code changes needed to implement this policy will be developed, tested, and implemented within the next 2 weeks.

If you have any insights\concerns\comments, please feel reach out to by opening a Help Desk ticket here. (Help Desk tickets are the best way to start a communication as they get tracked for follow up).

All the best,
Carl

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