Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 10 out of 11 markets closed lower: Shanghai Comp -1.37%, Hang Seng -1.87%, Nikkei -1.13%
- In Europe 13 out of 13 markets are trading higher: CAC +1.36%, DAX +1.29%, FTSE +0.45%
- Fair Value: S&P -0.45, NASDAQ +4.70, Dow -7.17
- Total Volume: 1.67mil ESH & 464 SPH traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Empire State Mfg Survey 8:30 AM ET, Import and Export Prices 8:30 AM ET, Industrial Production 9:15 AM ET, Raphael Bostic Speaks 9:55 AM ET, Consumer Sentiment 10:00 AM ET, and the Baker-Hughes Rig Count 1:00 PM ET.
S&P 500 Futures: #ES Shake, Rattle & Roll
Chart courtesy of @Chicagostock – $ES_F Last Friday’s failed b/o never retested to allow buyers chance to defend. Buyers forced to chase Tuesday/Wednesday as mkt ran away from 3D pivot support. Thursday 3D pivot tested, allowing buyers to defend, however unable to make new high. Friday range has narrowed…
Yesterday was all about big dips, big rips, and an overabundance of headline news. That’s exactly what the algorithmic and high frequency systems love, and what most retail traders hate.
As the title above says, there was a lot of shake, rattle and roll. After a drop overnight, then a big rally, the S&P 500 futures lost its momentum late in the day. The VIX closed at 16.22, up 3.46%, the ES settled at 2741.25, down -0.30%, the NQH closed at 7017.26, basically unchanged at +0.01%, and the YMH closed at 25,406.00, down 0.32%.
During Wednesday nights Globex session, the S&P 500 futures (ESH19:CME) printed a high of 2763.00, a low of 2736.00, and opened Thursday’s regular trading hours at 2739.00. The morning low print was 2730.00, and the morning high came in at 2748.25. The S&P’s traded 2739.50 on the 10:30 European close, and 2752.75 going into the noon hour.
The early afternoon saw a low of 2748.00, a high of 2758.25 and a print of 2750.00 going into the final hour of the day. The futures broke heading into the close, and traded 2751.25 on the 2:45 cash imbalance reveal, then printed 2745.50 on the 3:00 cash close, and settled the day at 2743.75 on the 3:15 futures close, down -5.75 handles, or -0.21%.
In the end, the overall tone of the ES was ‘mixed’. In terms of the days overall trade, total volume was higher, with 1.67 million futures contracts traded.
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