Index Futures Net Changes and Settlements:
| Contract | Settlement | Net Change | +/-% |
| S&P 500 (ESZ19:CME) | 2980.50 | -5.75 | -0.19% |
| DowJones (YMZ19:CBT) | 26,892 | -66 | -0.24% |
| Nasdaq 100 (NQZ19:CME) | 7787.25 | -33.00 | -0.42% |
| Russell 2000 (RTYZ19:CME) | 1537.20 | -15.60 | -1.00% |
Foreign Markets, Fair Value and Volume:
- In Asia 6 out of 11 markets closed lower: Shanghai Comp +0.11%, Hang Seng -0.33%, Nikkei -0.77%
- In Europe 11 out of 13 markets are trading higher: CAC +0.22%, DAX +0.89%, FTSE +1.02%
- Fair Value: S&P +1.25, NASDAQ +19.66, Dow -26 46
- Total Volume: 1.34 million ESZ & 100 SPZ traded in the pit
*As of 7:00 a.m. CST
Today’s Economic Calendar:
Today’s economic calendar includes Durable Goods Orders 8:30 AM ET, Personal Income and Outlays 8:30 AM ET, Randal Quarles Speaks 8:30 AM ET, Consumer Sentiment 10:00 AM ET, Patrick Harker Speaks 12:00 PM ET, the Baker-Hughes Rig Count 1:00 PM ET, and Farm Prices 3:00 PM ET.
S&P 500 Futures: Buy, Sell, Never Fall In Love With Your Position
Chart courtesy of Scott Redler @RedDogT3 – $spx futures +8 after proving it can hold 2952-2970 area. You can see a bit of a DT line forming. It will need to clear and hold 2985 for perhaps better traction.
The S&P 500 futures traded up to 2995.00 on Globex, and sold off down to the 2986.00 area just Thursday’s regular trading hours (RTH) open. The futures printed 2986.50 on 8:30 CT bell, and then made three lower lows down to 2974.75. From there, the ES popped up to 2980.75, and then made another sequence of lower lows all the way down to 2964.25, down -30 handless from the Globex high.
Once the low had been established, the futures jumped up to 2972.00, made a higher low at 2965.25, then rallied up to the vwap at 2978.00 just before 12:00 CT. After that, ES pulled back down to 2970.75 12:24, then rallied 15 handles up to 2985.75 at 1:22. The futures then pulled back down to 2997.00, and as the MiM started showing over $600 million to buy, popped up to another new high at 2988.50.
Next, the ES traded down to 2981.00, as the MiM widened out to over $700 million to buy. On the 2:45 cash imbalance reveal the futures traded 2982.00, as the final MiM showed $716 million to buy, then flipped to $500 million to sell. It would go on to print 2980.25 on the 3:00 cash close, and settle at 2980.00 on the 3:15 futures close, down -6 handles, or -0.20% on the day.
In terms of the days overall tone, it was sell programs in the morning, and buy programs in the afternoon. That’s how this works now. In terms of the days overall trade, volume was much lower, with 1.3 million mini S&P contracts traded.
If you haven’t already signed up for the MrTopStep Traders Symposium, let me tell you, you really should. We have a great lineup of traders with some really cool new products. I, personally, will be listening to every presentation.
Below is a list of traders and their Twitter handles. This is going to be the best show we’ve ever had!
Danny Riley @MrTopStep
Marlin Cobb @RedLionTrader
Jeff Hirsch @AlmanacTrader
Niels Koops @Niels_AMS
Steve Crutchfield @BamaTrader
David Dube @PolarisTrading
Keith Gallagher http://wyckoffamtrader.com/
Stewart Solaka @Chicagostock
Steve Hammer @HFTAlert
Peter Davies @Jigsaw_Trading
Ophir Gottlieb @CMLviz
Kaushal Shah @TOSindicators
Gagan Daphu – ES Zones @GaganDaphu
Bill Olsen @NewsWare
Peter Reznicek – ShadowTrader @PeterReznicek
Learn More Here
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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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