S&P 500 On Cusp Of Correction Territory

Index Futures Net Changes and Settlements:

Foreign Markets, Fair Value and Volume:

• In Asia 6 out of 11 markets closed higher: Shanghai Comp -2.18%, Hang Seng +0.38%, Nikkei -0.16%
• In Europe 13 out of 13 markets are trading higher: CAC +1.11%, DAX +2.02%, FTSE +1.81%
• Fair Value: S&P -0.25, NASDAQ +7.37, Dow -31.22
• Total Volume: 3.49mil ESZ & 1,533 SPZ traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes Personal Income and Outlays 8:30 AM ET, Charles Evans Speaks 9:45 AM ET, and the Dallas Fed Mfg Survey 10:30 AM ET.

S&P 500 Futures: #ES Early Selloff Stabilizes Then Sells Off Again Late In The Day

_{Chart courtesy of @Chicagostock – $ES_F FOMC Powell 2927 to 2627 has been fun. Testing 2640 support based off May low of 2591. *Bears got cocky late last week.* Can we get a rip back to 2750-2850? Fail to hold May low open door to new LOY.}

After a volatile globex session the S&P 500 futures opened Friday’s 8:30 AM regular session at 2663.75. The first move after the bell was a rally up to an early morning high of 2672.25. After that, waves of selling took it down to the early morning low of 2638.00, then after a failed bounce to 2659.50, the ES traded down to 2627.25 before rallying late in the morning up to 2688.00, a quick 50 handle turn around.

The afternoon saw the high of day made just after 12:00 at 2692.75, before a series of lower highs and lower lows through the afternoon eventually took the ESZ down to 2641.00 early in the final hour. From there, the futures bounced up to 2672.75 going into the close, printing 2657.25 at 3:00 PM, before traveling up to settle the day at 2670.50.

Daily HotSpots

HotSpots are times during the market trading session that for the past XX days have consistently moved in one direction or the other. These HotSpots are published each morning pre-market. The next day, a results post is also published and weekly a summary post.

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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.}