Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 8 out of 11 markets closed higher: Shanghai Comp -0.14%, Hang Seng +1.73%, Nikkei +0.76%
- In Europe 12 out of 13 markets are trading higher: CAC +0.96%, DAX +1.27%, FTSE +0.81%
- Fair Value: S&P +0.25, NASDAQ +5.77, Dow -7.49
- Total Volume: 865k ESZ & 221 SPZ traded in the pit
S&P 500 Futures: Black Fridays Runs Into Wall Street Bears
On Friday’s shortened post holiday session, the S&P 500 futures opened the 8:30 cash session at 2631.00, down -18.00 handles. The morning low was made a handle beneath the open, and then the futures rallied strong in what seemed to be early thin to win type price action. An early morning high was made at 2643.50 less than a hour into the session, and then, following a 10 handle pullback, the ES printed the high for the at 2647.50.
Once the high was in, the ES began to drag through the end of the morning, dropping down to a 2634.25 low just after 11:00. After an eight handle rally, the futures then sold off late in the session, making a late day low of 2628.50 at 1:15, and then settling the day down -20.50 handles, or -0.77%.
It was another bad week for the ES on a list of many recently. In most cases the futures rally around the holidays, but not this Thanksgiving. In terms of the ES’s overall tone, it was another early rally that failed. In terms of the days overall volume, the total over the two holiday holiday sessions was right around 1 million contracts.
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