S&P 500 Futures: Facebook Revamp And S&P New All-Time Highs

Index Futures Net Changes and Settlements:

Foreign Markets, Fair Value and Volume:

• In Asia 8 out of 11 markets closed higher: Shanghai Comp +0.79%, Hang Seng +1.81%, Nikkei +1.00%
• In Europe 8 out of 12 markets are trading higher: CAC +0.26%, DAX +1.01%, FTSE -0.10%
• Fair Value: S&P +0.58, NASDAQ +10.13, Dow -24.66
• Total Volume: 1.3mil ESH & 985 SPH traded in the pit

Friday’s Trade: S&P Up 8 Of The Last 9 Sessions, Or Up + 3.5%

In Asia, Hong Kong’s Hang Seng closed up 0.9%, extending its weekly gain to nearly 2%. In Europe, the Stoxx Europe 600 rose 0.3% to finish its second consecutive weekly gain. In the U.S., on Globex, the S&P 500 futures traded up to 2776.75, but had a 10 handle drop down to 2766.75 at 7:40 AM when Facebooks Chief Executive Mark Zuckerberg announced changes that he said would hit user engagement in the near term.

Once the news was out, the ES traded back up to 2774.00 at 8:20 AM, and opened at the 2771.00 area, down ticked to 2770.00, and by 10:00 CT traded all the way up to 2785.75, up +16.25 handles on the day.

After a pullback down to 2779.00, the ES ‘back and filled’ from 2781.00 to the 2785.00 area, and then retested the high of the day at 2785.76. From there it Made a new high and ‘double top’ at 2786.75, pulled back down to 2781.50, and then traded back up to 2786.00 as the MiM went from $315 million to buy to $785 million to buy. At 2:45 the CME cash imbalance came out buy $1.2 billion, and the ES shot up to 2788.75, up 19.5 handles or + 0.70%. On the 3:00 cash close the ES traded 2786.50, and settled on a new daily high at 2789.00 on the 3:15 futures close.

As always, please use protective buy and sell stops when trading futures and options.

SIGN UP HERE TO GET THE FULL MRTOPSTEP OPENING PRINT!

_{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.}