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Index Futures Net Changes and Settlements:

Foreign Markets, Fair Value and Volume:

• In Asia 6 out of 11 markets closed lower: Shanghai Comp -0.97%, Hang Seng -0.14%, Nikkei +0.06%
• In Europe 12 out of 13 markets are trading higher: CAC +0.49%, DAX +0.67%, FTSE +0.96%
• Fair Value: S&P -0.15, NASDAQ +7.13, Dow -36.13
• Total Volume: +1.23mil ESU & 418 SPU traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes Employment Situation 8:30 AM ET, International Trade 8:30 AM ET, PMI Services Index 9:45 AM ET, ISM Non-Mfg Index 10:00 AM ET, and the Baker-Hughes Rig Count 1:00 PM ET.

S&P 500 Futures: Bulls On Parade

After trading lower in the overnight session, the S&P 500 futures opened yesterday’s cash session at 2797.25, made an immediate low of 2795.00, and from there the bulls took over pushing buy stops. It was a relentless push to 2812.50 in the first hour, and after a pullback to 2804.75, the bulls recharged heading into the Euro close as buy programs pushed the ESU up to a 2823.25 morning high just before noon.

The afternoon saw more of the same, a push up to 2828.75 just after 1:00 pm, then a 5.25 handle pullback to 2823.50 just after 2:00 pm, before a late day rally pushing up to new highs on the close at 2829.50, as the MOC was $1.15 billion to buy. The 3:00 print was 2827.00 before the 3:15 settlement of 2828.50 up +17.75 handles or +0.62%.

In the end, the day was all about sucking the bears in to provide fuel for buy stops, and bulls barely let off the pedal all day.

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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.}