Overnight the S&P 500 futures opened about a handle lower and traded down over 11 handles to 1938.75 just above last week’s low of 1935 before rallying in the euro session opening the U.S. cash hours at 1956.50, 18 handles from the low and proceeded to traded higher in the first hour of the RTH session making a high of 1962.50 early before trading lower into the euro close making a low of 1944.25 at noon Chicago time only to rally nearly 20 handles into the close settling the cash session at 1963.50 up 13.50 handles on the day.
Heard across the news wires today was that Russia has amassed enough combat power at the Bassel al Assad air base to begin combat operations in Syria. Also a strong 6.6 magnitude earthquake hit central Chile, and lastly the Fed’s Lockhart Says Risks of Delaying Rate Hike Not Significant.
Heading into tomorrow is a relevant turnaround Tuesday stat that 23 of the last 31 weeks Tuesday closed in the reverse direction of Monday’s close. Other stats for the latter part of September are also bearish as only one of the final 7 trading days has positive stats.
Seen Today In The MrTopStep IM Pro Trading Room:
Dboy1 ( 9:52:23 AM ): sold 62.25s
Dboy1 ( 9:52:59 AM ): I think everyone thought they would go right down
Dboy1 ( 9:53:24 AM ): it never works like that , the algos have to run the weak short out first
Dboy1 ( 10:08:41 AM ): sorry I paid 59.25 on half
Dboy1 ( 10:08:55 AM ): + 3
Dboy1 ( 10:36:12 AM ): I covered the balance at 63.25
Floor Pivots For Tomorrow’s RTH E-mini
R3 2008.50
R2 1983.25
R1 1973.50
PP 1959.00
S1 1948.75
S2 1943.25
S3 1909.50
by FairValue Trader