Breaking News
0

ES 2800 On Tap

By MrTopStep (Danny Riley)Stock MarketsJul 11, 2018 08:38AM ET
www.investing.com/analysis/es-2800-on-tap-200330334
ES 2800 On Tap
By MrTopStep (Danny Riley)   |  Jul 11, 2018 08:38AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Index Futures Net Changes and Settlements:

Index Futures
Index Futures

Foreign Markets, Fair Value and Volume:

  • In Asia 9 out of 11 markets closed lower: Shanghai Comp -1.78%, Hang Seng -1.29%, Nikkei -1.19%
  • In Europe 13 out of 13 markets are trading lower: CAC -1.22%, DAX -1.30%, FTSE -1.14%
  • Fair Value: S&P +2.08, NASDAQ +17.03, Dow -11.74
  • Total Volume: 920k ESU & 322 SPU traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes MBA Mortgage Applications 7:00 AM ET, PPI-FD 8:30 AM ET, Atlanta Fed Business Inflation Expectations 10:00 AM ET, Wholesale Trade 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET, and John Williams Speaks 4:30 PM ET.

S&P 500 Futures: #ES Approaches ‘The Big Figure’ At 2800.00

Stocks Are On A Roll
Stocks Are On A Roll

Yesterday, Asia and Europe both traded higher overnight, and so did the S&P 500 futures. The trading range on Globex for the ES was 2786.25 to 2797.75, with 147,000 contracts traded. The first print of the day was 2791.50.

After some early ‘back and fill’ between 2793.50 and 2789.00, the ES traded back up to the Globex high at 2797.75 at 10:08 CT, followed by a selloff down to 2791.50. From there, the futures bounced up to 2796.50 to print a lower high, then drifted back down to 2788.50 at 12:48 CT. After that, the ES traded back up to the 2797.00 area as the MiM went from $101 million to buy to $386 million to buy, to $36 million to sell at 2:40 CT.

The ES went on to trade 2794.50 on the final 2:45 cash imbalance reveal, which ended up showing $1.3 billion for sale, traded 2795.75 on the 3:00 cash close, and settled at 2796.50 on the 3:15 futures close, up +9.00 handles, or +0.32% on the day.

In the end, the S&P and Dow have had their best four days since February. Stocks have closed higher 7 out of the last 8 sessions, and the S&P traded at its highest level since February 2nd. The Russell 2000 made another new all time high. It’s hard to argue with that! In terms of the days overall trade, it was a very slow trading day, at 2:30 only 734,000 contracts had traded. Clearly the summer trade is now in full gear.

Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

Original post

ES 2800 On Tap
 
ES 2800 On Tap

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email