Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Equities Just Can’t Seem To Catch A Break

Published 08/26/2015, 02:04 AM
Updated 05/14/2017, 06:45 AM

The Short n Sweet of Tuesday’s Trade

After the S&P 500 futures (ESU15:CME) ran up during the overnight session, it left us speculating it had done too much too soon going into the cash open. At the regular-trading hours open, the MiM was showing a huge sell side imbalance as the index opened near the high of yesterday afternoon, testing the 1950.00 level. From there it back and filled as it couldn’t sustain a bid as it sold nearly 40 handles post lunch in an orderly fashion. Early in the final hour the MiM was again showing large to sell and the market-on-close came in at 2.9 billion to sell. As we saw that dip, buyers have yet to find any real conviction, and thus the index sold off more than 60 handles in the final hour before bouncing at 1860 and closing nearly 15 handles from the low.

Equities just can’t seem to catch a break as many of the historical statistics suggest that the price action that is occurring since last week is historical. Today’s volume was again well over it’s moving average as sellers refuse to give up, and at this point, why should they? Tomorrow’s economic calendar is light but that shouldn’t matter as another day of swing, volatility and wide ranges should be in store. Area’s to watch on the futures are Monday’s low of 1831.00 and the area of Monday’s & Tuesday’s RTH high around 1950. For bulls to begin to take charge they need to not only control the overnight but also the open through the close and manage to rally past 1950.00 on the ESU15.

We’ll leave it at that!

Tomorrow’s Notable Earnings: Guess ? (GES) Royal Bank Of Canada (RY) Williams Sonoma Inc (WSM)

Tomorrow’s Economic Calendar:
MBA Mortgage Applications 7:00 AM ET
Durable Goods Orders 8:30 AM ET
William Dudley Speaks 10:00 AM ET
EIA Petroleum Status Report 10:30 AM ET
2-Yr FRN Note Auction 11:30 AM ET
US 5 Year T-Note Auction 1:00 PM ET

  • Open: 1946.75
  • High 1947.25
  • Low: 1860.00
  • Close: 1873.75
  • Volume: 3,624,240 total
  • MOC: 2.9 Billion to Sell

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.