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Index Futures Net Changes and Settlements:

Contract Settlement Net Change +/-%
S&P 500 (ESM18:CME) 2657.25 -6.75 -0.25%
DowJones (YMM18:CBT) 24,336 -123 -0.50%
Nasdaq 100 (NQM18:CME) 6640.75 -30.00 -0.45%
Russell 2000 (RTYM:CME) 1552.80 -6.50 -0.41%

Foreign Markets, Fair Value and Volume:

  • In Asia 6 out of 11 markets closed lower: Shanghai Comp -1.53%, Hang Seng -1.60%, Nikkei +0.26%
  • In Europe 9 out of 12 markets are trading lower: CAC -0.16%, DAX -0.11%, FTSE -0.51%
  • Fair Value: S&P -0.11, NASDAQ +8.24, Dow -34.68
  • Total Volume: 1.6mil ESM, and 691 SPM traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes Retail Sales 8:30 AM ET, Empire State Mfg Survey 8:30 AM ET, Business Inventories 10:00 AM ET, Housing Market Index 10:00 AM ET, Raphael Bostic Speaks 1:15 PM ET, and Treasury International Capital at 4:00 PM ET.


S&P 500 Futures: #ES Sell The Bank Earnings

Friday, Asian markets closed mixed, and European markets were up across the board. After the banks beat expectations, the S&P 500 futures, which made a Globex low at 2652.00 before trading up to 2680.00, traded 2679.50 on the 8:30 CT futures open. Just after the bell, the ES up ticked to 2680.50 and then sold off down to 2661.25. Once the initial selloff was over, the futures bounced up to 2669.00, and then went on to make a new low at 2655.00. After some back and fill, the ES traded up to 2663.00, and then sold off down to new lows at 2651.00, -29.50 handles off the high.

After making the low just after 10:00 AM CT, the ES rallied up to 2665.75 through the Euro close, printing the midday high 60 minutes after the morning low, a +15.75 handle rally. From there, the futures went sideways to lower, trading down to 2657.50, before beginning to rally in the mid afternoon, up to a new high of 2668.00.

As the ES traded into the final two hours of the day, the futures began to break down, pushing down to 2660.50, then rallying up to 2666.00 before selling off down to 2644.75 at 2:20 PM CT. Going into the close, the ES rallied up to 2659.00 before going on to settle the day at 2657.25, down -6.75 handles, or -0.26%, with the MOC at $325 million to sell.


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Danny Riley (2016 Posts)

Danny Riley has worked in the futures and options industry for 38 years, including the CBOT’s bond room, where he worked for several of the Market Wizards. He went on to build the largest volume desk in the S&P 500 Index Futures, serving some of the largest banks and hedge funds, the UBS program trading business, and some of the world's top individual traders. As a leader and co-creator of the MrTopStep IM-Pro Trading Room, he shares trading ideas and breaking market news live from the floor with our other professional traders and new traders eager to experience the power of collective intelligence. Join us today and get the edge only social trading can give you.


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