Worst Thanksgiving Week For The Stock Market Since 1939

Index Futures Net Changes and Settlements:

Foreign Markets, Fair Value and Volume:

• In Asia 8 out of 11 markets closed higher: Shanghai Comp -0.14%, Hang Seng +1.73%, Nikkei +0.76%
• In Europe 12 out of 13 markets are trading higher: CAC +0.96%, DAX +1.27%, FTSE +0.81%
• Fair Value: S&P +0.25, NASDAQ +5.77, Dow -7.49
• Total Volume: 865k ESZ & 221 SPZ traded in the pit

_{As of 8:00 AM EST}

Today’s Economic Calendar:

Today’s economic calendar includes Chicago Fed National Activity Index 8:30 AM ET, and Dallas Fed Mfg Survey 10:30 AM ET.

S&P 500 Futures: Black Fridays Runs Into Wall Street Bears

Chart courtesy of Scott Redler @RedDogT3 – $spx futures up 30. Had to see today’s open coming with last weeks downside. Now we need to figure out if it sticks. There will be clues and levels. 

On Friday’s shortened post holiday session, the S&P 500 futures opened the 8:30 cash session at 2631.00, down -18.00 handles. The morning low was made a handle beneath the open, and then the futures rallied strong in what seemed to be early thin to win type price action. An early morning high was made at 2643.50 less than a hour into the session, and then, following a 10 handle pullback, the ES printed the high for the at 2647.50.

Once the high was in, the ES began to drag through the end of the morning, dropping down to a 2634.25 low just after 11:00. After an eight handle rally, the futures then sold off late in the session, making a late day low of 2628.50 at 1:15, and then settling the day down -20.50 handles, or -0.77%.

It was another bad week for the ES on a list of many recently. In most cases the futures rally around the holidays, but not this Thanksgiving. In terms of the ES’s overall tone, it was another early rally that failed. In terms of the days overall volume, the total over the two holiday holiday sessions was right around 1 million contracts.

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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.}