S&P 500 Up 9 Of The Last 12 Sessions

Charts, Commentary, News, Stocks, Technical Analysis, The Opening Print, Trades


Index Futures Net Changes and Settlements:

Contract

Settlement

Net Change

+/-%

S&P 500 (ESM19:CME)

2912.50

+20.75

+0.71%

DowJones (YMM19:CBT)

26,408

+275

+1.05%

Nasdaq 100 (NQM19:CME)

7652.25

+35.00

+0.45%

Russell 2000 (RTYM19:CME)

1589.20

+7.30

+0.46%

Foreign Markets, Fair Value and Volume:

  • In Asia 7 out of 11 markets closed higher: Shanghai Comp -0.34%, Hang Seng -0.33%, Nikkei +1.37%
  • In Europe 11 out of 13 markets are trading higher: CAC +0.11%, DAX +0.13%, FTSE -0.08%
  • Fair Value: S&P +4.07, NASDAQ +20.96, Dow -2.84
  • Total Volume: 1.21k ESM & 339 SPM traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes Empire State Mfg Survey 8:30 AM ET, Charles Evans Speaks 8:30 AM ET, Charles Evans Speaks 12:00 PM ET, and Treasury International Capital 4:00 PM ET.


S&P 500 Futures: Fridays Slow Grind

Chart courtesy of Stewart Solaka @Chicagostock$ES_F Dear robots, You teased buyers all week, rallying up to 2900 then pulling the rug from underneath. Screw them some more by opening cash above and forcing them to pay up… Globex is the time to do it!

During Thursday nights Globex session, the S&P 500 futures (ESM19:CME) printed a high of 2911.75, a low of 2890.75, and opened Friday’s regular trading hours at 2909.75.

The first move after the 8:30 CT bell was a quick rally up to 2914.75. After that, the sell bots took over, forcing prices down to and eventual RTH low at 2902.50. Things got choppy after that, and the benchmark futures contract spent the rest of the morning trading sideways in a 5 handle range.

Heading into the afternoon, the ES started a slow ‘thin-to-win’ type move higher, and by 12:15 had traded up to 2911.00. After a small pullback down to 2907.75, the futures continued to grind higher going into the final hour of trading.

On the 2:45 cash imbalance the ES traded 2910.50 as the final MiM showed $538 million to buy. On the 3:00 cash close the ES traded 2912.00, and settled at 2912.75 on the 3:15 futures close, up +21 handles or 0.72% on the day.

In the end, the overall tone of the ES was firm, but there were few people trading. In terms of the days overall trade, total volume was ok, but not great, with only 1.2 million 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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John Doherty (71 Posts)


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