Elliott Wave On Stock Market Sell Signal

Charts, Commentary, News, Stocks, The Opening Print

Index Futures Net Changes and Settlements:

ContractSettlementNet Change+/-%
S&P 500 (ESU19:CME) 2978.50-12.00-0.40%
DowJones (YMU19:CBT)26,793-92-0.34%
Nasdaq 100 (NQU19:CME)7801.00-50.50-0.64%
Russell 2000 (RTYU19:CME)1564.70-14.70-0.93%

Foreign Markets, Fair Value and Volume:

  • In Asia 7 out of 11 markets closed lower: Shanghai Comp -0.18%, Hang Seng -0.76%, Nikkei +0.14%
  • In Europe 12 out of 13 markets are trading lower: CAC -0.37%, DAX -0.99%, FTSE -0.06%
  • Fair Value: S&P +4.06, NASDAQ +22.63, Dow -3.47
  • Total Volume: 1.0 ESU & 216 SPU traded in the pit

*As of 7:00 a.m. CST

Today’s Economic Calendar:

Today’s economic calendar includes the 8-Week Bill Settlement, NFIB Small Business Optimism Index 6:00 AM ET, Jerome Powell Speaks 8:45 AM ET, Redbook 8:55 AM ET, James Bullard Speaks 10:00 AM ET, JOLTS 10:00 AM ET, Raphael Bostic Speaks 1:00 PM ET, and Randal Quarles Speaks 2:00 PM.

S&P 500 Futures: Monday, Repeat Of Friday

Chart courtesy of Scott Redler @RedDogT3 – $spx futures -12 as the Oscillator went from +40 to Neutral.. Holding the 2952 area is important. Powell is tomorrow.

After making a high at 2994.75 during Sunday nights Globex session, the S&P 500 futures broke down to 2978.75 just before 1:00 am CST, and opened Monday’s regular trading hours (RTH) at 2981.50.

Volume was low, the action was weak, and the range was tight for most of the day. It was a good day to play both sides if you’re a scalper.

The daily trend was definitely to the down side, but the final MOC reveal was a strong $654 million to buy. The futures went on to close out the day at 2978.25, which was right in the middle of the RTH opening range, and just 2 ticks lower than the Globex low.


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

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Danny Riley (3367 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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