Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 7 out of 11 markets closed higher: Shanghai Comp -0.70%, Hang Seng +0.63%, Nikkei +0.64%
- In Europe 12 out of 13 markets are trading higher: CAC +0.38%, DAX +0.19%, FTSE +0.33%
- Fair Value: S&P +0.85, NASDAQ +8.38, Dow -5.75
- Total Volume: 1.04mil ESU & 248 SPU traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes MBA Mortgage Applications 7:00 AM ET, Existing Home Sales 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET, and FOMC Minutes 2:00 PM ET.
S&P 500 Futures: SPX Makes New All Time Highs Then Out Comes The Headlines
Yesterday, the S&P 500 futures traded in a quiet sideways overnight range before opening the regular session at 2863.50, up +5.00 handles. An early low was made on the open at 2862.75, and then the futures charged up to a early high in the first half hour at 2869.75, before trading back down a tick above the open just after 10:30 am.
The midday saw a bounce after the Euro close, as the SPX was hitting a new all time high, the ES traded up to 2874.00 just before noon, and then drifted lower into the afternoon as the MiM orders began to stack up to the sell side. The ES made an afternoon low of 2865.75 just before 2:00, and then bounced to 2869.25 before selling off down to new lows as the MiM reveal showed 1.7 billion to sell MOC.
The afternoon low came in at 2861.00 before the ES printed 2863.50 on the 3:00 close, and then settled the day at 2861.00, up +2.50 handles, or +0.09%. In the end, everything was fine until after the close when the Cohen headlines hit the tape.
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.