The S&P 500 futures opened the globex session at 2019.75 unchanged and after making an early session low of 2015.75, the index futures caught and maintained a bid for the duration of the Asian session into the European open, making a high of 2034.25 before coming off 5 handles into the cash hours open.
At the regular trading hours open, the S&P futures opened at 2029.75, 10 handles in positive territory, but failed to catch an early bid, as sell programs maintained control early in the session, again early in the afternoon, then controlled the final hour on a MOC (market-on-close) sell imbalance of nearly $150 million, which was in line with what the MiM (market-imbalance-meter) had indicated. The contract settled its RTH session at 2008.50 down 12 handles on the day.
Heard across the wires was the announcement by Vice President Biden that he will not be seeking the Democratic nomination for president; also, Caterpillar (N:CAT), which reports on Q3 earnings, released their latest retail sales, which show a global decrease of the last quarter. The calendar is somewhat more noteworthy, as the ECB decision and press conference will make headlines around the world before the U.S. open, and here in the U.S., the home sales number will have the most attraction of a very slow news week.
Seen Today In The IM Pro Trading Room:
Chicagostock ( 3:32:03 PM ): s1650
Chicagostock ( 3:40:58 PM ): 1650 stop
Chicagostock ( 3:42:54 PM ): bidding 1350 to scale
Chicagostock ( 3:47:57 PM ): 1450 stop
Chicagostock ( 3:51:18 PM ): 1350 stop ES
Chicagostock ( 3:56:42 PM ): flat ES 10 +6.5
Floor Pivots For Tomorrow’s N:RTH E-mini
R3 2062.50
R2 2039.25
R1 2023.75
PP 2016.00
S1 2000.50
S2 1992.75
S3 1969.50
Tomorrow’s Notable Earnings: 3M Co (N:MMM) Amazon.Com Inc (O:AMZN) AT&T Inc (N:T) Capital One Financial Corp (N:COF) Caterpillar Inc (N:CAT) Dow Chemical Co (N:DOW) DR Pepper Snapple Group Inc (N:DPS) Eli Lilly And Co (N:LLY) Etrade Financial Corp (O:ETFC) Huntington Bancshares Inc (O:HBAN) McDonalds Corp (N:MCD) Microsoft Corp (O:MSFT) Netgear Inc. (O:NTGR) Southwest Airlines Co (N:LUV) Stanley Black & Decker Inc (N:SWK) T Rowe Price Group Inc (O:TROW).