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Danny Riley

This morning at 8:00 CT  MrTopStep.com hosts Mark Fisher from The Logical Trader for a live trading event.  

It’s common knowledge that many indicators use the opening range, but today Mark Fisher will explain why and how his popular ACD Method uses it. And why so many traders and fund managers use ACD. And we will be askinga questions. What's most important about this event is that you, the trader, will get to hear it directly from the source, not from some writer or some subscription based on the method, but from Mark himself.

We all know that many of the old tools don't work anymore, but one tool that does work is the ACD method of pivots and volume windows. For those unfamiliar with the ACD method the best quick overview is the Q&A on Mark Fisher’s website.

We will be online at 7:30 CT. There are some seats left, so go here to enter the room. (http://bit.ly/165XbTS) As always, MrTopStep strives to give you as much information as we can, but with nearly a thousand signups we will need to limit the questions. Just after 8:00 CT Mark will come online and talk ACD. We have some prepared questions but to tell the truth Mark just wants to talk and trade. Around 8:20 we will take a break until the 8:30 open. Ryan from NinjaTrader will project specific live charts Mark requested and after the bell Mark will be live, on camera, calling out his trades.  

After Mark is done at 9:30 CT MrTopStep has special guests from the NYSE, Warren Myers and John Monaco. MrTopStep is going to roll out its brand new Closing Imbalance Indicator and the new ACD level meter.

We already like the method but we also know the question many of you are asking: can the guru make it work when we go live? The only way to know is to sign up and see for yourself. At no charge. You’ll be looking over his shoulder while he trades.

I want to give a special thank you to Mark for taking his time out to show the world how his tools work. Mark is a great example of what Marty “The Pit Bull” Schwartz says: “You can't make the money if you don't do the work.” Join us as we watch Mark work.

Thank you,

Danny Riley


Our view: Asia and Europe are down sharply. Are we surprised by the big down move? Not at all. If your read our report yesterday and Tuesday we said we had a bias to the downside, yesterday we said we think higher but that doesn't mean we won’t see some type of fakeout, and we warned last week about the BOJ, the Fed and the China PMI. All that said, the S&P sold off nearly 40 handles from its 1685 high and is down sharply this morning. At 5:00am the ESM has a 29-handle downside range, 1659 Globex high, 1632.50 low on 360k contracts traded. We have been saying for weeks that the S&P is loaded with sell stops, and now we are starting to hit them out. Our view: Get on the floor, get on the Mark Fisher webinar (could not have been timed better) and see what Fisher has to say about levels and trade ideas. As always, keep an eye on the 10-handle rule and please use stops when trading futures.

  • It’s 5:00 a.m. and the ESM is down 19 handles at 1636.50, crude is down 1.24 at 93.04 and the EC is trading 1.2882, up 38 pips.
  • In Asia, 11 out of 11 markets closed lower (Shanghai Comp. -1.16%, Hang Seng -2.54% , Nikkei -7.32%).
  • In Europe, 12 out of 12 markets are trading sharply lower (CAC -2.57%,  DAX -2.57%)
  • Today’s headline: “When It Rains It Pours: China PMI Shrinks for First Time in 7 Months”
  • Total volume: 2.97mil ESM and 12.8k SPM
  • Economic calendar: James Ballard speaks, jobless claims, PMI manufacturing, FHFA house price index, nat gas numbers, KC Fed mfg. index, Fed balance sheet and money supply.
  • Fair value: S&P -14.30, NASDAQ -26.50
  • MrTopStep Closing Print Video: https://www.youtube.com/watch?v=nd8X44LxBYo           

Danny Riley is a 34-year veteran of the trading floor. He has helped run one of the largest S&P desks on the floor of the CME Group since 1985.

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DISCLAIMER: The information and data in the above report were obtained from sources considered reliable. Opinions, market data, and recommendations are subject to change at any time. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any commodities or securities. {jathumbnailoff}