Today the ESU15:CME opened the regular session 3 handles lower on the day before trading higher within a tick of Fridays close and in turn sold off during the New York lunch hour nearly 20 handles from the high down to 2080.00 then rallied nearly 12 handles to close at 2090.75
Leading the selling charge was crude oil futures (CLU5:NYMEX) which sold off $1.70 trading all the way down to the $45 area before finding mild support there. Also participating in the selling were Shares of Apple (NASDAQ:AAPL) trading lower by as much at 3.5% this afternoon bring it down over 11% in just two weeks
Turnaround or Terrible Tuesday?
There may be some optimism heading into tomorrow given this afternoons solid bounce, a positive market-on-close imbalance and a Dow Jones Transportation average which closed in the positive today. Adding to optimism is the fact that “Turnaround Tuesday” has been very relevant as of late while 8 of the last 10 weeks Tuesday’s session closed opposite of Monday for the S&P 500.
However over the current year of 2015 Tuesday has been the weakest day of the week closing down 62% of the time, and while most months open have strong stats the beginning of August has the weakest stats of any month over the last 50 years, adding to this is the fact that August has been the weakest preforming month over the last 20 years.
Tuesdays Notable Earnings: Archer Daniels Midland Co (ADM), Charter Communications Inc (NASDAQ:CHTR), Coca-Cola Bottling Co Consolidated (NASDAQ:COKE), Devon Energy Corp (NYSE:DVN), Emerson Electric Company (NYSE:EMR), Hyatt Hotels Corporation (NYSE:H), Kellogg Company (NYSE:K), MGM Resorts International (NYSE:MGM), Mosaic Company (NYSE:MOS), Office Depot Inc (NASDAQ:ODP), Papa JohnS International Inc (NASDAQ:PZZA), Sprint Corp (NYSE:S), Toyota Motor Corp (OTC:TOYOF), Walt Disney Company (NYSE:DIS).
Tuesday’s Economic Calendar
Redbook 8:55 AM ET
Factory Orders 10:00 AM ET
- Open: 2096,25
- High: 2099.00
- Low: 2080.00
- Close: 2090.75
- Volume: 1,503,233 total
- MOC: 468 Million to Buy