End Of August Asset Allocation

Index Futures Net Changes and Settlements:

Foreign Markets, Fair Value and Volume:

• In Asia 6 out of 11 markets closed higher: Shanghai Comp +0.34%, Hang Seng -0.10%, Nikkei -0.09%
• In Europe 12 out of 13 markets are trading higher: CAC +1.43%, DAX +1.19%, FTSE +1.12%
• Fair Value: S&P -0.13, NASDAQ +4.68, Dow -13.39
• Total Volume: 1.48 million ESU & 200 SPU traded in the pit

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

Today’s Economic Calendar:

Today’s economic calendar includes GDP 8:30 AM ET, International Trade in Goods 8:30 AM ET, Jobless Claims 8:30 AM ET, Corporate Profits 8:30 AM ET, Retail Inventories 8:30 AM ET, Wholesale Inventories 8:30 AM ET, Pending Home Sales Index 10:00 AM ET, EIA Natural Gas Report 10:30 AM ET, Fed Balance Sheet & Money Supply 4:30 PM ET.

S&P 500 Futures: ES In A 2820-2920 Range

Chart courtesy of Scott Redler @RedDogT3 – Good morning. Mostly green arrows around the World. A little window dressing, a little trade rhetoric, a little rebalance. Either way, some upside follow thru to yesterday’s RDR as $spx 2856 was reclaimed. $spy reclaimed $286.03. Some resistance 2917 then 2940. (Trim and trail).

During Tuesday nights Globex session, the S&P 500 (ESU19:CME) printed a high at 2878.00, a low at 2853.75, and opened Wednesday’s regular trading hours (RTH) at 2861.00.

The first move after the 8:30 CT bell was to take out the Globex low, which it did, and printed a new low at 2851.75. After that, the futures set its sights on the Globex high, and by 11:00 had traded up to a new high at 2887.75.

From there, the ESU settled into a slow steady grind higher, eventually trading up to another new high at 2890.50. 

Going into the close, when the MiM reveal came out showing $540 million to sell MOC, the futures were trading at 2885.50, they would then go on to print 2888.25 on the 3:00 cash close, and 2889.75 on the 3:15 futures close, up +24.25 handles.

Don’t get too excited, the PitBull said he thinks the ES is stuck in a 2820-2920 range. MrTopStep agrees, but also knows that under the current conditions, things could turn on a dime. 

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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.}