Following Monday’s sell-off, wherein S&P futures pulled back to the 2040-2038 price level: 30 points (1.4%) below Friday’s high, S&P futures have traded up to fill the “gap” at Friday’s close: 2058.

Monday’s late in the day sell-off was followed by a retracement up to 2047. Overnight S&P futures pulled back to 2042, prior to the “run” up to 2058: 22.50 points below Monday’s low.

As we noted in yesterday’s market commentary, a pull-back to the 2040-2038 price level would represent a relative discount in the context of Friday’s high at 2068. Thus, we inferred that “if” the market was going to maintain it upward directional bias, we expected to see buying interest on the pull-back and S&P futures up to fill the gap that developed at the open of Sunday’s globex session.

The broad benchmark S&P is now poised to re-test Friday’s high. However, as the majority of the gains have occurred during the overnight session, there is a “gap” above yesterday’s close. Hence, there is the possibility of a pull-back at today’s open.

In the event the positive bias is maintained the pull-back should find support at or near Monday’s close and or the

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

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