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Index Futures Net Changes and Settlements:

ContractSettlementNet Change+/-%
S&P 500 (ESU19:CME) 2940.00+59.50+2.06%
DowJones (YMU19:CBT)26,365+425+1.63%
Nasdaq 100 (NQU19:CME)7735.75+182.50+2.41%
Russell 2000 (RTYU19:CME)1534.10+34.00+2.26%

Foreign Markets, Fair Value and Volume:

  • In Asia 7 out of 11 markets closed lower: Shanghai Comp -0.71%, Hang Seng -0.69%, Nikkei +0.44%
  • In Europe 11 out of 13 markets are trading lower: CAC -0.94%, DAX -1.15%, FTSE -0.05%
  • Fair Value: S&P -0.65, NASDAQ +7.59, Dow -29.36
  • Total Volume: 1.78 million ESU & 595 SPU traded in the pit

*As of 7:00 a.m. CST

Today’s Economic Calendar:

Today’s economic calendar includes PPI-FD 8:30 AM ET, and the Baker-Hughes Rig Count 1:00 PM ET.


S&P 500 Futures: #ES DEATH TO THE SHORTS

Chart courtesy of Scott Redler @RedDogT3 $spx futures -12 as the oscillator went from -70 Monday back to Neutral yesterday. I think this down open is welcomed as most traders sold some strength yesterday. 2890-2910 should hold if this market is going to keep commitment/stay constructive.

During Wednesday nights Globex session, the S&P 500 futures (ESU19:CME) printed a low at 2970.00, a high at 2900.50, and opened Thursday’s regular trading hours (RTH) at 2898.50, up 19 handles from the previous settlement.

Yesterday was a textbook trend day. I really don’t think I need to tell you that. If you’re a day trader and you tried to short it, you got burned. The only way to make money was to just jump on board, which is tough for a lot of traders. It’s hard buying highs, but that’s what you had to do.

Pullbacks were rare, and when they did come, they were small. Even when the MiM reveal showed $800 million to sell, the ES still continued to trade higher. It would go on to print 2938.75 on the 3:00 cash close, and 2940.50 on the 3:15 futures close, up 60 handles on the day. 

How or why the S&P does what it does is anyone’s guess. After making a 2775.75 low Tuesday, the ES rallied all the way up to the 2940.75 yesterday, that’s a 166 handle move in 3 days. Like it or not, the S&P remains a dip buyers market.


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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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Danny Riley (3071 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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