G20 – Four Days And Counting

Index Futures Net Changes and Settlements:

Foreign Markets, Fair Value and Volume:

• In Asia 7 out of 11 markets closed lower: Shanghai Comp -0.87%, Hang Seng -1.15%, Nikkei -0.43%
• In Europe 11 out of 13 markets are trading lower: CAC -0.10%, DAX -0.06%, FTSE +0.01%
• Fair Value: S&P +4.46, NASDAQ +27.64, Dow +7.66
• Total Volume: 902K ESU & 230 SPU traded in the pit

_{*As of 7:00 a.m. CST}

Today’s Economic Calendar:

Today’s economic calendar includes the 8-Week Bill Settlement, John Williams Speaks 8:45 AM ET, Redbook 8:55 AM ET, S&P Corelogic Case-Shiller HPI 9:00 AM ET, FHFA House Price Index 9:00 AM ET, New Home Sales 10:00 AM ET, Consumer Confidence 10:00 AM ET, Richmond Fed Manufacturing Index 10:00 AM ET, Raphael Bostic Speaks 12:00 PM ET, Jerome Powell Speaks 1:00 PM ET, and James Bullard Speaks 6:30 PM ET.

S&P 500 Futures: Low Volume Grind

Chart courtesy of Scott Redler @RedDogT3 – $spx futures -5 as the Markets try and prove they can hold higher with all the macro tensions and Sector Divergences.

During Sunday nights Globex session, the S&P 500 futures (ESU19:CME) printed a high of 2961.75, a low of 2947.25, and opened Monday’s regular trading hours at 2956.25.

After the 8:30 CT bell, the ESU made a quick trip down to 2952.75, and then settled into a quiet 7 handle range for the rest of the morning and into the afternoon. It was not a setup for day traders to hold onto runners. You definitely had to play both sides to make any money. I, personally, sat on my hands for most of the day.

By 2:15, the futures had finally broken out of the range, and printed a new RTH low at 2950.50. Other than that, there was very little excitement going into the close. 

When the MiM reveal came out showing $597 million to buy, the ES was trading at 2952.50. It would then go on to print 2950.75 on the 3:00 cash close, and 2952.25 on the 3:15 futures close, up +2 handles on the day.

In the end, the overall tone of the ES was firm, but slow. In terms of the days overall trade, total volume was low, with only 900K futures contracts traded.

SIGN UP HERE TO GET THE FULL MRTOPSTEP OPENING PRINT!

As always, please use protective buy and sell stops when trading futures and options.

_{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.}