Stronger Richmond Fed Data – MrTopStep Closing Print 04-22-2014
The mergers and acquisitions and the uptick in earnings this week lead to the early support today. In our opinion, holding the Yell, 1866.25 area was the key and the stronger Richmond Fed data supported the ensuing rally that stepped higher throughout the midafternoon.
Open range: 1866.80 – 1866.50
Daily low: 1866.00a early
Daily high: 1878.50 midday
The MiM closing imbalance: Started small to sell, flipped to a buy of $380M.
Cash Close: March futures traded 1873.10 area
Volume: ESM14 traded 1.1M