With the Asian and European markets generally down overnight, the Emini S&P hit a low of 1890 overnight, then spent the day rallying. In the end, it rose a full 21 points.
Traders took comfort in reports that Moscow wants to lower tensions with Ukraine, reducing fears of a Russian invasion and war. This overshadowed the end of the Israel-Hamas ceasefire and the US airstrikes against ISIS targets in Iraq.
Monday has no economic reports and if the Friday-Monday spillover effect shows up, we should see further upside in Sunday night’s Globex and Monday. Another little-known phenomenon that we have used with great results is the PitBull’s Thursday/Friday low before expiration week. We saw it again this month with that low of 1890.
Have a great weekend.
HIGH: 1927.00 Late
LOW: 1904.00 Early
LAST: 1926.20 UP 21 Handles
TOTAL VOLUME: 1.9mil minis; 3.2k bigs
MOC: BUY $740mil
Wham Bam Thank You Ma’am
FOR NEXT WEEK:
Next week has a total of 20 economic releases…
11 T-Bond or T-Bill Announcements or Auctions and 2 FED presidents speaking, bu Monday starts out the week with no economic releases
The Pit Bulls Thursday/Friday Low
Russian media reports this morning suggest Moscow is looking to De-Escalate the tensions with Ukraine – The MXRV rallied 1.5% in response to the positive chatter
SPX will have problems at 1950 unless trend is reversed
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Globex 1890 Low: Can It Hold?
Published 08/08/2014, 02:41 PM
Updated 05/14/2017, 06:45 AM
Globex 1890 Low: Can It Hold?
Latest comments
Loading next article…
Install Our App
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.
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.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.