Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 7 out of 11 markets closed lower: Shanghai Comp -0.18%, Hang Seng +0.03%, Nikkei -0.60%
- In Europe 11 out of 13 markets are trading lower: CAC -0.56%, DAX -0.28%, FTSE -0.44%
- Fair Value: S&P -0.87, NASDAQ +5.75, Dow -35.39
- Total Volume: 1.37mil ESH & 238 SPH traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Chicago Fed National Activity Index 8:30 AM ET, and the Dallas Fed Mfg Survey 10:30 AM ET.
S&P 500 Futures: Choppy Session
Chart courtesy of @Chicagostock – $ES_F Sharing what we were looking at yesterday. H/S formation w break of neckline that failed to see expansion. Globex provided a retest where sellers failed to expand lower. Move over 2643 triggered squeeze > head 264750, forcing shorts to cover.
After rallying Thursday night, the S&P 500 futures opened Friday’s regular session at 2661.25, and made an early low at 2656.50 before bids came swooping back in. Buying pressure helped push the futures up to 2671.50 just before 10:00, then after an 8.25 handle pullback, the ES relaunched, making a high of day at 2672.50, but quickly sold off down to 2660.25 heading into the noon hour.
The afternoon saw a lower high at 2668.25, followed by a grind lower heading into the close. The benchmark futures contract made an afternoon low at 2657.50 going into the final hour, and closed the day at 2663.25, up +29.25 handles.
In the end the, ES’s overall tone remains firm, but ‘suspect.’ In terms of the days overall trade, only 1.37 million contracts traded.
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