Index Futures Net Changes and Settlements:

ContractSettlementNet Change+/-%
S&P 500 (ESU19:CME) 3007.00-10.25-0.33%
DowJones (YMU19:CBT)27,328-14-0.05%
Nasdaq 100 (NQU19:CME)7942.75-44.00-0.55%
Russell 2000 (RTYU19:CME)1565.50+0.40+0.02%

Foreign Markets, Fair Value and Volume:

  • In Asia 7 out of 11 markets closed lower: Shanghai Comp -0.20%, Hang Seng -0.09%, Nikkei -0.31%
  • In Europe 10 out of 13 markets are trading lower: CAC -0.15%, DAX -0.16%, FTSE -0.24%
  • Fair Value: S&P +3.48, NASDAQ +20.18, Dow -11.33
  • Total Volume: 935k ESU & 246 SPU traded in the pit

*As of 7:00 a.m. CST

Today’s Economic Calendar:

Today’s economic calendar includes MBA Mortgage Applications 7:00 AM ET, Housing Starts 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET, Esther George Speaks 12:30 PM ET, and Beige Book 2:00 PM ET.


S&P 500 Futures: The Chop Is Real

Chart courtesy of Stewart Solaka @Chicagostock

During Monday nights Globex session, the S&P 500 futures (ESU19:CME) printed a high of 3021.75, a low of 3016.00, and opened Tuesday’s regular trading hours (RTH) at 3016.75.

Out of the gate, the ESU traded sideways in a 4 handle range for the first hour after the 8:30 CT bell. Just before a 10:45, a sell program activated, taking the futures down through the Globex low, to a new low at 3004.50.

From there, the ES traded sideways for the rest of the day, first back-and-filling up to 3013.50, then breaking back down to double bottom at 3004.50.

When the MiM reveal came out showing $520 million to buy MOC, the futures had traded back up to 3011.75, but would go on to close a little weaker, printing 3007.25 on the 3:00 cash close, and 3006.75 on the 3:15 futures close.

In the end, the overall tone of the ES was weak. In terms of the days overall trade, total volume was low, with 935k futures contracts traded.


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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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