Next Up, Currency Flash Crash

Index Futures Net Changes and Settlements:

Foreign Markets, Fair Value and Volume:

• In Asia 7 out of 11 markets closed higher: Shanghai Comp +2.05%, Hang Seng +2.24%, Nikkei -2.26%
• In Europe 13 out of 13 markets are trading higher: CAC +1.39%, DAX +1.87%, FTSE +1.37%
• Fair Value: S&P -0.21, NASDAQ +12.47, Dow -27.48
• Total Volume: 2.24mil ESH & 770 SPH traded in the pit

Today’s Economic Calendar:

Employment Situation 8:30 AM ET, PMI Services Index 9:45 AM ET, Jerome Powell Speaks 10:15 AM ET, Raphael Bostic Speaks 10:15 AM ET and again on Saturday 10:15 AM ET, EIA Natural Gas Report 10:30 AM ET, EIA Petroleum Status Report 11:00 AM ET, the Baker-Hughes Rig Count 1:00 PM ET, and John Williams speaks on Saturday 8:00 AM ET.

S&P 500 Futures: Apple Down 10%, Currency Flash Crash And A Nancy Pelosi Comeback Haunts The S&P

Chart courtesy of @Chicagostock – $ES_F Thursday was the first close < 3D pivot since the prior Thursday where it closed above to begin the new ST “trend” up. Headfake? or a new trend beginning lower? Friday’s 3D pivot range above market for sellers to defend, buyers to overcome. Close above = headfake.

After trading lower in the overnight session, following the postmarket news from Apple after Wednesday’s close, the S&P 500 futures opened yesterday’s cash session at 2490.50, and in the opening minutes traded up to 2493.50. From there, the futures turned lower, trading to a first hour low at 2454.75, then after a 12.50 handle bounce resumed selling off down to the low of day at 2447.25 at 9:45. After that, the ES got a nice lift, helped out by buy programs on the European close, pushing up to 2489.00 for the late morning high, then chopped lower into the midday. +

The afternoon saw more of a lower chop, down to 2454.50 for the early afternoon low, and made a mid afternoon high of 2473.75 heading into the final hour of the day. After 2:00 the ES trickled lower, and late in the day made a new low at 2443.25. The benchmark futures went on to print 2448.25 on the 3:00 cash close, and settled the day at 2448.25, down -62.75 handles, or -2.5%.

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