Providing it's customers with the education to be successful traders with our trading courses.
Read moreYou will learn the process of what professional traders look for every day to breakdown the market with our trading courses.
Read moreThe S&P 500 futures snapped a 5-day losing streak today, as buyers finally stepped in. The index closed at 2025.90, up 23.29 points or 1.16%
In addition to the S&P 500 futures trading higher, we also saw a bounce in Crude Oil prices, snapping a 4-day losing streak and closing at $48.82 per barrel.
The S&P 500 closed the week on a 3 day losing streak, it opened the week at 2087.63 and closed on the first trading day of the year at 2058.20. However, volume was relatively anemic, as most traders were away from their desk’s. This coming week, marks the first 5-day week of the new year, hopefully we should see volume start to pick up.
Interestingly, the VIX hit a high of 20.14, on Friday, January 2, 2015. However, it closed the week at 17.79.
The S&P 500 finished the shortened week up nearly 20 handles, closing at 2088.77, as we enter the final week of trading for the year. This week will also be shortened, as the markets are closed on New Years day.
In respect to economic numbers, we’ve got Jobless Claims on Wednesday, December 31st.
The VIX opened the week at 16.52 and closed at 14.68, on Friday.
This morning we got 3rd quarter GDP numbers. They were revised sharply to 5%, which is the strongest number we’ve seen in over a decade. This was good enough to take the Dow Jones Industrial above 18,000 intraday.
However, volume was relatively light today. In fact, we saw below average volume in the SPY and nearly half the average volume in the VXX. Of course, this is to be expected given the Holidays are around the corner.
The US Equity market has been raging ever since Wednesday’s Federal Reserve Meeting. The S&P 500 had back to back 40 plus handle days, closing the week above 2070. Not to shabby, considering on Tuesday, it was trading around 1970 and change.
As has been the case this year, the market shrugged off any potential fears, including the Russian currency turmoil and weaker energy prices.
Today we saw incredible volatility in the markets. The S&P 500 opened up at 1986.71, hit a high of 2016.89 and then saw a vicious sell off into the close, where we finished near the lows at 1972.74.
This sets up for a very important day tomorrow.
VIX 23.57 +3.15 (15.43%)
LINE 12.54 +2.71 (27.57%)
Traders will be focused on the FOMC, Oil and Russia. Earlier today, Apple announced that their online sales in Russia were currently unavailable.
GrubHub Inc (GRUB) saw 6.2 times usual options volume. We saw one trader buy over 3500 March 35 calls for $2.50 on the offer side.
Mattel (MAT) we saw 7.4 times usual options volume. We saw one trader buy over 5500 April 30 puts for an average price of $1.88 on the offer side.
The Santa Claus rally appears to be in jeopardy, but there is enough new information entering the market tomorrow to potentially change that.
We had an interesting day of market volatility today. The S&P 500 opened at 2056.55, hit a low in the morning of 2034.17 and rallied back in the afternoon to close positive on the day, at 2059.82.
Many of the hi-beta stocks also saw major reversals. Tesla went from a low of $204.27 and closed near the high of the day to $216.89. Apple rallied from a low of $109.35 to close up on the day, at $114.12.
VIX closed near the low of the day after hitting a high of 16.68, to 14.89. Overall, it was a very impressive market comeback…setting us up to what looks like the inevitable Santa Claus rally.
Heading into tomorrow, The biggest reports are the EIA Petroleum numbers at 10:30 am and the Treasury Budget at 2 pm.
On the options front, AAR Corp saw 24.5 times options volume. 92% of the call options traded were on the offer side. There was news earlier this morning that PE firms might be interested in their cargo business.
Discover and apply the keys to motivation and trading discipline that create long-term success with our courses.
Our course will teach you how to craft your edge, your resources and your trade management skills into a trading plan that leads into a daily game plan.
Learn entry signals, order types, trade adjustments and exit strategies through our active trading masters program.
coupon code GIFTGIVING25
Get access to our comprehensive online Professional Trading Course, which includes almost 20 hours of Video, Audio, and Course PDFs. Our program is designed to help you become an expert trader in no time.
Take advantage of this limited time offer and pay only $499.00 instead of the regular price of $1999.00. Get the full program for the price of a course! Plus, upon completion, you will receive an interview opportunity.
To redeem this offer, use the coupon code GIFTGIVING25 before Jan 2, 2025.
Also, don't forget to inquire about our Trader Placement Program, available for all students who have completed the course.
Don't miss out on this incredible opportunity! Enroll today in our highly sought-after Active Trading Masters Program and enjoy an amazing discount!
This will close in 60 seconds