Foreign Markets, Fair Value and Volume:
- In Asia 10 out of 11 markets closed higher: Shanghai Comp +2.58%, Hang Seng +0.76%, Nikkei +0.33%
- In Europe 13 out of 13 markets are trading higher: CAC +0.79%, DAX +1.32%, FTSE +0.48%
- Fair Value: S&P +0.50, NASDAQ +2.75, Dow +7.78
- Total Volume: 1.4 million ESM & 157 SPM traded in the pit
S&P 500 Futures: Down But Still Up
The S&P 500 futures (ESM19:CME) gapped higher Sunday night to open the Globex session at 2893.25. After printing a high at 2898.00, it started to fall back, eventually trading down to 2880.50, which would remain the session low.
The ES went on to rally into the RTH open, where it printed 2890.75, and continued to rally for the rest of the morning. By 11:00, the futures had topped out at 2905.50, and began to ease back a little.
After pulling back to 2895.50, the ES went on to trade sideways in a 5 handle range well into the afternoon. Just before 1:00, sellers stepped in and pulled the futures back through the opening range to make a new RTH low at 2886.75.
After a little back and fill up to 2895.50, the ES traded back down going into the end of the day, and printed 2890.25 on the 3:00 cash close, and 2889.75 on the 3:15 futures close.
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