S&P futures sold on Friday, pulling back below the opening range high at 2068 and trading down to 2044: - 23 points, before auctioning up to 2056 (+12 points) into the close.

Friday’s sell-off marked the end of a 47 points rally above the 02-04-15 low at 2021. The rally extended the January trading range by a modest 6 point above 01-09-15, 01-23-15 highs at 2063.

At the open of Sunday’s globex session, S&P futures “gapped” down 14 points below Friday’s closing range high at 2056 and sold down to 2048; 2 points below Friday’s low.

  

Despite the so-called positive economic data Friday’s rally indicated there is still no significant buying interest above the January high.  The final up move above the 02-02-15 low at 1973 was nothing more than the completion of the short covering rally.

While Friday’s jobs report showed a 0.5% increase average hourly earnings, on an annual basis, wage growth is still stuck near the lowest

Our initial beta operations surfaced a handful of issues, most of which centered around trade position\management synchronization with our client application.
 
We have been quite active in the background working through these issues.

We are driving to complete all fixes for these issues sometime next.
 
The fixes will include a new ...sceeto client (v3.0.80) and a new NinjaTrader strategy which will need to be installed on your workstations.
 
The next build will also include some additional user graphics and more functional nimbleness for us so that we can more rapidly update existing orders.  
 
This next build should get us to a Release Candidate build.

I am so excited about the new build that:

 
If the new build was a car, I would drive it to the prom.  
 
If the new build was a beach, I would go there for a honeymoon.
 
If the build was a beer, I would...well, you get the picture.
 
Once we test the new build and find that the updated functionality is peforming as designed we will begin working to on-board additional beta testers.

S&P futures sold on Friday, pulling back below the opening range high at 2068 and trading down to 2044: - 23 points, before auctioning up to 2056 (+12 points) into the close.

Friday’s sell-off marked the end of a 47 points rally above the 02-04-15 low at 2021. The rally extended the January trading range by a modest 6 point above 01-09-15, 01-23-15 highs at 2063.

At the open of Sunday’s globex session, S&P futures “gapped” down 14 points below Friday’s closing range high at 2056 and sold down to 2048; 2 points below Friday’s low.

  

Despite the so-called positive economic data Friday’s rally indicated there is still no significant buying interest above the January high.  The final up move above the 02-02-15 low at 1973 was nothing more than the completion of the short covering rally.

While Friday’s jobs report showed a 0.5% increase average hourly earnings, on an annual basis, wage growth is still stuck near the lowest levels recorded since the Great Financial Crisis. 

In January the number of

On Thursday the major U.S. indexes rallied above their prior day’s close. The Dow gained 211 points (1.2%), The Nasdaq composite gained 48 points (1.03%) and the S&P 500 advanced 21 points (1.03%).

On Wednesday’s the S&P sold off into the close and traded down to 2020 in the overnight session. Thursday’s rally broke-out above the prior day’s high and stalled at the 2058 price level.

Overnight S&P future traded relative “flat” ahead of today’s jobs data.  On the release of today’s data the rally in the S&P futures continued, with the S&P trading up to 2064, modestly above the 01-21-15, 01-07-15 highs.

Thus far, the S&P is up 45 points. There has yet to be a minor pull-back (10-14 points).

What might be deemed as near term support, i.e. the most recent day session low at 2030 is significantly below the current high? The previous day session highs (02-03-15, 02-04-15) are located at 2044 and 2048.

During Thursday’s rally there was a minor 8 point pull-back to 2048. Thus, the S&P has extended the trading range to the upside and appear to have resumed the climb the wall of worry mode.

In other words, astute observed will notice that following each initial “run”, long periods (1 to 3 hours) of 2 to 3 points HFT Market Marker algo patterns dominated the auction.  These periods of Market Marker Algo dominance impose limiting constraints on the market development.

Current reference points above the January highs are: 12-31-15 high at 2068; 12-28-14 all-time record high at 2089: prior record high at 2078.

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