First Trading Day Of September

Charts, Commentary, News, Stocks, The Opening Print


Index Futures Net Changes and Settlements:

ContractSettlementNet Change+/-%
S&P 500 (ESU19:CME) 2924.75-2.00-0.06%
DowJones (YMU19:CBT)26,406+28+0.10%
Nasdaq 100 (NQU19:CME)7690.75+21.25+0.27%
Russell 2000 (RTYU19:CME)1494.20-3.30-0.22%

Foreign Markets, Fair Value and Volume:

  • In Asia 6 out of 11 markets closed lower: Shanghai Comp +0.21%, Hang Seng -0.39%, Nikkei +0.02%
  • In Europe 11 out of 13 markets are trading lower: CAC -0.40%, DAX -0.33%, FTSE -0.27%
  • Fair Value: S&P +0.28, NASDAQ +3.73, Dow +3.14
  • Total Volume: 1.6 million ESU & 259 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, PMI Manufacturing Index 9:45 AM ET, ISM Mfg Index 10:00 AM ET, Construction Spending 10:00 AM ET, and Eric Rosengren Speaks 5:00 PM ET.


S&P 500 Futures: Last Day Of The Month Jitters

Chart courtesy of Stewart Solaka @Chicagostock$ES_F After recovering the failure at 2940, key now for mkt so sustain the U turn by consolidating to build a base/handle in attempt to overcome 2940 for shot at expanding range higher. Failure to hold 2890 = negative.

During Thursday nights Globex session, the S&P 500 futures initially traded down to print a low at 2920.50, and then rallied to print a high at 2946.50 when news came out of China saying they are having effective communication with the U.S. concerning the trade war. The headlines helped extend the overnight range to 26 handles, and the ESU would go on to open Friday’s regular trading hours (RTH) at 2941.50, up +16.75 handles. 

The China trade news wound up being the only positive note to the day. After kissing the 50 day moving average at 2945.00, the futures turned south, and buy 10:30 CT had traded back through the Globex low to print a new low for the day at 2913.25.

Once the low was in, selling pressure died down, and the ES drifted sideways for the rest of the day. 

Stocks got a little boost at the end of the day when the MiM flipped from $376 million to sell to $1.6 billion to buy, and the futures popped up to 2929.25. That was it though, and the ES would go on to print 2923.25 on the 3:00 cash close, and 2924.75 on the 3:15 futures close, down -2.00 handles.


SIGN UP HERE TO GET THE FULL MRTOPSTEP OPENING PRINT!

This image has an empty alt attribute; its file name is mts-openingprint-promo1.jpg

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.

Follow MrTopStep in our Social Space:

Danny Riley (3132 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.


Leave a Reply