S&P And Nasdaq New All-Time

Commentary, News

Photographer: Eric Thayer/Bloomberg

Index Futures Net Changes and Settlements:

ContractSettlementNet Change+/-%
S&P 500 (ESU19:CME) 3024.50+18.00-0.59%
DowJones (YMU19:CBT)27,149+53+0.19%
Nasdaq 100 (NQU19:CME)8019.75+38.00+0.47%
Russell 2000 (RTYU19:CME)1581.50+18.30+1.17%

Foreign Markets, Fair Value and Volume:

  • In Asia 8 out of 11 markets closed lower: Shanghai Comp -0.12%, Hang Seng -1.03%, Nikkei -0.19%
  • In Europe 11 out of 13 markets are trading higher: CAC +0.07%, DAX +0.12%, FTSE +1.73%
  • Fair Value: S&P +0.94, NASDAQ +11.79, Dow -30.25
  • Total Volume: 958k ESU & 126 SPU traded in the pit

*As of 7:00 a.m. CST

Today’s Economic Calendar:

Today’s economic calendar is light, and includes the Dallas Fed Mfg Survey 10:30 AM ET.

S&P 500 Futures: #ES How High Is High?

During Thursday nights Globex session, the S&P 500 futures (ESU19:CME) printed a high of 3017.25, a low of 3006.00, and opened Friday’s regular trading hours (RTH) at 3014.75.

The ESU was fairly strong out of the gate after the 8:30 CT bell, and it would stay strong for the rest of the day.

The first stop on the way up was a new high at 3020.75, then after some back-and-fill down to 3016.00, a second leg up took the futures to another new high at 3025.00.

Volume was low, and you could sense the movement was purely algo driven. It’s what we like to call “thin-to-win.”

The low volume grind eventually took the ES up to a new all time high at 3029.50. Then, when the MiM reveal came out showing $583 million to sell MOC, the futures started to back off a little going into the close.

The ES went on to print 3027.00 on the 3:00 cash close, and 3024.00 on the 3:15 futures close, up +17.50 handles on the day. 


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

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Danny Riley (3538 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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