Index Futures Net Changes and Settlements:

 

Contract Settlement Net Change +/-%
S&P 500 (ESH18:CME) 2811.00 +14.75 +0.54%
Dow Jones (YMH18:CBT) 26,046 +105 +0.40%
Nasdaq 100 (NQH18:CME) 6845.75 +32.75 +0.47%
Russell 2000 (RTYH:CME) 1599.00 +24.00 +1.50%

Foreign Markets, Fair Value and Volume:

  • In Asia 8 out of 11 markets closed higher: Shanghai Comp +0.39%, Hang Seng +0.43%, Nikkei +0.03%
  • In Europe 10 out of 12 markets are trading higher: CAC +0.15%, DAX +0.03%, FTSE +0.04%
  • Fair Value: S&P +1.50, NASDAQ +11.41, Dow -9.22
  • Total Volume: 1.3mil ESH & 400 SPH traded in the pit

Today’s Economic and Earnings Calendar:

Chicago Fed National Activity Index, 8:30 a.m. Eastern Earnings: Halliburton, 6:45 a.m.; TD Ameritrade, 7:30 a.m.; ResMed, 4 p.m.; Netflix, 4:05 p.m. (approx.); Woodward, 4:05 p.m.; Zions Bancorp; 4:10 p.m.; Brown & Brown, 4:09 p.m.; Steel Dynamics, 6:00 p.m.

S&P 500 Futures: Up 5.3% In 2018, Best 13-Day Start To A Year Since 1987

It seems the world markets didn’t care too much about U.S. government shutdown, nor does the S&P.

Friday, the Asian markets closed firm, and the German DAX was up 1%. In the U.S., the S&P 500 futures made an overnight low on Globex 2791.75, and traded all the way up to 2806.00, with 275,000 lots traded. On the 8:30 CT futures open, the ES traded 2806.25, sold off a little, then rallied up to 2805.25. After that, it sold off down to 2801.50, rallied up to 2806.25, and then double bottomed at 2802.50.

From 10:00 AM to 1:00 PM the ES traded in a three handle range. Around 1:15 it started hitting some buy stops and running some buy programs, which helped push the futures up to a new all time contract high at 2809.75. Unlike Thursday, when most people were saying there was going to be a government shutdown, a late headline came out from a source familiar with the Schumer-Trump meeting saying he did not think there would be a government shutdown. He said that progress was being made, but there were still a number of disagreements. We all know what happened next though…

As the MiM went from over $500 million to buy to $973 million to buy, the ES popped up to another new high at 2812.50, up 15.5 handles or + 0.49%. At 2:45 the NYSE imbalance came out buy $1.4 billion. On the 3:00 cash close the ES traded up to 2815.25, and then went on to settle at 2811.00.

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

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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.

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