Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 11 out of 11 markets closed lower: Shanghai Comp -2.26%, Hang Seng -3.08%, Nikkei -2.67%
- In Europe 13 out of 13 markets are trading lower: CAC -1.24%, DAX -1.95%, FTSE -0.86%
- Fair Value: S&P +1.70, NASDAQ +12.53, Dow -13.77
- Total Volume: 1.65mil ESZ & 312 SPZ traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Redbook 8:55 AM ET, Neel Kashkari Speaks 9:30 AM ET, Richmond Fed Manufacturing Index 10:00 AM ET, a 4-Week Bill Auction 11:30 AM ET, a 8-Week Bill Auction 11:30 AM ET, a 2-Yr Note Auction 1:00 PM ET, Raphael Bostic Speaks 1:30 PM ET, Robert Kaplan Speaks 2:15 PM ET, Charles Evans Speaks 6:15 PM ET, and Esther George Speaks 8:00 PM ET.
S&P 500 Futures: Buy Tech / Sell S&P
The index markets closed weak last Friday and dropped during Sunday nights Globex session, with the S&P 500 futures trading all the way down to 2749.75, down -18.00 handles. Once the low was in, the benchmark futures traded all the way back up to 2782.00 at 7:03 AM Monday morning, then traded 2777.00 on the 8:30 AM futures open. After the open, the ES sold off down to 2751.00, traded back up to 2774.75, then made a series of lower lows down to 2752.75 going into 11:30 CT.
In the afternoon, price chopped higher, up to 2766.50 for the early afternoon high, and then crept back down to 2756.25 for a mid afternoon low, before rallying up to a double top at 2768.25 going into the final hour. From there, the ES dragged lower into the close, with the MiM showing a final closing imbalance of $431 million to sell. The E-Mini S&P 500 futures (ESZ18:CME) went on to print 2757.75 on the 3:00 cash close, and settled the day on the late afternoon low tick of 2756.00, down -11.50 handles, or -0.42%.
Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.