🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Is This A Mid-Month Rebalance?

Published 01/16/2019, 01:47 AM
UK100
-
FCHI
-
DJI
-
DE40
-
JP225
-
HK50
-
ESM24
-

No Stops GO Untouched

Index Futures Net Changes and Settlements:

Index Futures

Foreign Markets, Fair Value and Volume:

  • In Asia 10 out of 11 markets closed higher: Shanghai Comp +1.36%, Hang Seng +2.02%, Nikkei +0.96%
  • In Europe 7 out of 13 markets are trading lower: CAC -0.07%, DAX -0.29%, FTSE -0.05%
  • Fair Value: S&P +0.12, NASDAQ +9.60, Dow -31.97
  • Total Volume: 1.19mil ESH & 110 SPH traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes PPI-FD 8:30 AM ET, Empire State Mfg Survey 8:30 AM ET, Redbook 8:55 AM ET, Neel Kashkari Speaks 11:30 AM ET, Robert Kaplan Speaks 1:00 PM ET, and Esther George Speaks 1:00 PM ET.

S&P 500 Futures: Down Overnight And Then Upside Grind

S&P 500 Futures
Chart courtesy of @Chicagostock $ES_F Fought to consolidate Monday as 3rd negative open was defended, however buyers failed to overcome prior close. Tuesday: Open >2588 keeps shorts from Monday on the hook, giving buyers opportunity to run/expand. Open

After dropping in the overnight session, the S&P 500 futures opened yesterday’s cash session at 2575.50, and traded down to an early low of day at 2570.75 in the first half hour. From there, through the rest of the morning it was all about steady buying, as the ES pushed up to 2588.00 just after 9:30, then after a 9.75 handle pullback, rallied up to 2588.25 for the morning high.

The midday saw a 5 handle pullback, before buyers printed a new high of day at 2589.75 heading into 1:00. After that, the ES began to pull back heading into the final hour, making a mid-afternoon low at 2589.75 and then rallied in the last hour to 2589.50 before selling off late in the day down to 2577.00. The benchmark futures contract went on to settle the day at 2580.75, down -14.25 handles, or -0.55%.

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

Latest comments

Loading next article…
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.