High: 2054.75 Noon CT
Low: 2030.25 Late
2:45 Imbalance 2041.25, down 12.5 handles
3:00 cash close 2034.50, down 20 handles, or -1%.
3:15 Futures Special settlement 2035.40.
Volume: LOW despite the drop; only 1 mil ESH and 3k SPH traded.
2:45 CT Imbalance MiM showed -$1.8 bil for sale early and actual was sell $1.1bil.
3:15 CT Year end settlement price 2035.40, down 19.2 handles.
Frist trading week of the year has a busy economic schedule; it includes a total of 23 separate economic releases, 10 T-bill or T-bond auctions or announcements, the FOMC Minutes and the December jobs report. Monday’s trade starts out the week with PMI Manufacturing Index, ISM Mfg Index, Construction Spending, 6 Month T-bill Auction and the Gallup US Consumers Spending Measure.
9 out of 10 sectors in the S&P are down, all but the energy. Oil down 30% in 2015 / Gold down -10%, Bonds down -1%, Dow futures -2.5% , S&P futures down -0.90% , Nasdaq 100 futures up +8.4% and Apple’s first negative year since 2008.
2016 Predictions; More of the same, choppy up and down price action.
Concerns? Fed’s $4.5tillion balance sheet and rising interest rates.
ES range 1700.00 to 2250.00. I know a lot of folks are looking for a big sell off in the first quarter, but I think whatever the selloff ends up the ES will bounce again.
2016; New Year and New trading opportunities.