Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 7 out of 11 markets closed higher: Shanghai Comp +1.91%, Hang Seng +0.65%, Nikkei -0.18%
- In Europe 11 out of 13 markets are trading higher: CAC +0.42%, DAX +0.57%, FTSE +0.58%
- Fair Value: S&P -0.36, NASDAQ +5.05, Dow -13.03
- Total Volume: 1.42mil ESH & 183 SPH traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Mary Daly Speaks 10:15 AM ET, John Williams (NYSE:WMB) Speaks 10:15 AM ET, Baker-Hughes Rig Count 1:00 PM ET, James Bullard Speaks 1:30 PM ET, Richard Clarida Speaks 1:30 PM ET, Patrick Harker Speaks 1:30 PM ET, and John Williams Speaks 5:30 PM ET.
S&P 500 Futures: Weak, But Not Weak Enough
Chart courtesy of @Chicagostock – $ES_F Remember last Friday’s Globex session, market took out Thurs low by a pt @ 2729, only to see sellers fail to expand, turning into fuel that led to squeeze. Friday’s cash session opened > Thurs 2758 high, forcing buyers to pay up. Failure to hold 2763, leaves buyers at risk.
During Wednesday nights Globex session, the S&P 500 futures (ESH19:CME) printed a high of 2798.00, a low of 2778.25, and opened Thursday’s regular trading hours at 2777.75. The morning low print was 2769.00, and the morning high came in at 2780.50 right after the bell. The S&P’s traded 2772.50 on the 10:30 European close, and 2781.00 going into the noon hour.
The early afternoon saw a low of 2764.25, a high of 2781.75 and a print of 2766.75 going into the final hour of the day. The futures went on to trade 2767.75 on the 2:45 cash imbalance reveal, then printed 2775.25 on the 3:00 cash close, and settled the day at 2774.25 on the 3:15 futures close, down -12.75 handles, or -0.45%.
In the end, the overall tone of the ES was weak. In terms of the days overall trade, total volume was a little higher, with 1.4 million futures contracts traded.
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