Index Futures Net Changes and Settlements:

ContractSettlementNet Change+/-%
S&P 500 (ESU19:CME) 2848.50+7.75+0.27%
DowJones (YMU19:CBT)25,575+120+0.47%
Nasdaq 100 (NQU19:CME)7496.25+7.50+0.10%
Russell 2000 (RTYU19:CME)1463.30-5.00-0.34%

Foreign Markets, Fair Value and Volume:

  • In Asia 6 out of 11 markets closed higher: Shanghai Comp +0.29%, Hang Seng +0.94%, Nikkei +0.06%
  • In Europe 12 out of 13 markets are trading higher: CAC +1.04%, DAX +1.00%, FTSE +0.60%
  • Fair Value: S&P +0.65, NASDAQ +8.64, Dow -6.15
  • Total Volume: 2.49 million ESU & 821 SPU traded in the pit

*As of 7:00 a.m. CST

Today’s Economic Calendar:

Today’s economic calendar includes Housing Starts 8:30 AM ET, Quarterly Services Report 10:00 AM ET, Consumer Sentiment 10:00 AM ET, and the Baker-Hughes Rig Count 1:00 PM ET.

S&P 500 Futures: #ES Chop Fest

Chart courtesy of Stewart Solaka @Chicagostock$ES_F Shorts left trapped below yesterday’s lower window as cash market rallied to test its Reversal window, key level for buyers to overcome to force shorts to cover.

After trading down to 2817.75 during Wednesday nights Globex session, the S&P 500 futures (ESU19:CME) rallied 54 handles to print a high at 2871.75 just after 7:00 am CT, then broke 20 handles to open Thursday’s regular trading hours (RTH) at 2850.25.

They say the S&P tends to go sideways to higher after a big down day, and sideways is what we got, so I guess the theory held true once again. The ES was unable to break through either the Globex high or low, and spent the day chopping around in a 32 handle RTH range.

Even at the end of the day when the futures were hovering around the high, and the MiM reveal came out showing over $1 billion to buy MOC, buyers were unable to break through the ceiling, and the ES would go on to close out at 2848.50, up +7.75 handles.

Despite being held to a tighter range than we’re used to seeing the last few weeks, volume was still impressive, with close to 2.5 million mini S&P futures contracts traded.


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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.



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