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Index Futures Net Changes and Settlements:
| Contract | Settlement | Net Change | +/-% |
| S&P 500 (ESU18:CME) | 2800.75 | -4.50 | -0.16% |
| DowJones (YMU18:CBT) | 25,030 | -29 | -0.11% |
| Nasdaq 100 (NQU18:CME) | 7360.00 | -7.75 | -0.10% |
| Russell 2000 (RTYU:CME) | 1698.90 | -6.60 | -0.38% |
Foreign Markets, Fair Value and Volume:
- In Asia 6 out of 11 markets closed higher: Shanghai Comp +1.07%, Hang Seng +0.11%, Nikkei -1.33%
- In Europe 9 out of 13 markets are trading lower: CAC -0.64%, DAX -0.27%, FTSE -0.31%
- Fair Value: S&P +0.54, NASDAQ +10.13, Dow -22.23
- Total Volume: 1.00mil ESU & 289 SPU traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Chicago Fed National Activity Index 8:30 AM ET, and Existing Home Sales 10:00 AM ET.
S&P 500 Futures: The Dog Days Of Summer
Friday, the Shanghai Composite closed up +2.04% and the Stoxx 600 was down -0.33% at midday. During Thursday nights Globex session, the Chinese Yuan sold off to its lowest level in a year as President Trump widened his tariff threats. The S&P 500 futures (ESU18:CME) also sold off on the news, down to 2793.50, rallied up to 2806.00, and then sold off again down to a new low of 2793.00 at 5:30 am CT.
On the 8:30 CT futures open the ES traded 2803.50, down -2.25 handles, and then traded down to a morning low of 2802.00 before grinding higher, making the daily high of 2810.50 at 10:30 am right on the euro close.
The late morning and midday saw weaker price action, as the ES sold off down to 2803.50 for the midday low at 12:30. After a lower high was made at 2808.00, the ES again sold off late in the day down to 2800.75, bounced up to 2805.00, and then in the closing minutes trading down to 2800.25. The 3:00 CT print was 2801.50 before going on to settle the day at 2801.00, down -4.25 handles, or -0.18%.
The overall tone of the day was about two sides of a coin; the overnight weakness, then the morning rally followed by afternoon selling. As the PitBull calls it, “Water in the Bathtub”.
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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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