S&P 500 Futures: New Highs and Late Day Buying

Commentary, News

After making another all time high at 3097.00, the S&P 500 futures (ESZ19:CME) tapered off and closed inside the previous 3-day range. 

Going into the final hour, the ES looked weak, trading down to an intraday low at 3078.75, but caught a late wind when the MiM cash imbalance reveal came out showing over $1 billion to buy MOC.

The futures would go on to print 3084.25 on the 3:00 cash close, and 3086.25 on the 3:15 futures close, up nearly 10 handles on the day.

In terms of the days overall tone, the markets were clearly stronger, but with a hint of weakness during regular trading hours. In terms of the days overall trade, volume picked up a little, with more than 1.3 million e-mini S&P 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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Danny Riley (3411 Posts)

Danny Riley has worked in the futures and options industry for 38 years, including the CBOT’s bond room, where he worked for several of the Market Wizards. He went on to build the largest volume desk in the S&P 500 Index Futures, serving some of the largest banks and hedge funds, the UBS program trading business, and some of the world's top individual traders. As a leader and co-creator of the MrTopStep IM-Pro Trading Room, he shares trading ideas and breaking market news live from the floor with our other professional traders and new traders eager to experience the power of collective intelligence. Join us today and get the edge only social trading can give you.

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