Was Trump Present At The ‘Hush Money’ Meetings?
MrTopStep | Dec 16, 2018 02:08AM ET
- In Asia 11 out of 11 markets closed lower: Shanghai Comp -1.53%, Hang Seng -1.62%, Nikkei -2.02%
- In Europe 13 out of 13 markets are trading lower: CAC -0.86%, DAX -0.77%, FTSE -0.61%
- Fair Value: S&P +4.40, NASDAQ +27.28, Dow +29.07
- Total Volume: 2.02mil ESZ & 3,891 SPZ traded in the pit
As of 8:00 AM EST
h2 Today’s Economic Calendar:/h2Today’s economic calendar includes Retail Sales 8:30 AM ET, Industrial Production 9:15 AM ET, PMI Composite FLASH 9:45 AM ET, Business Inventories 10:00 AM ET, and the Baker-Hughes Rig Count 1:00 PM ET.
S&P 500 Futures: Year End Rotation; Buy NQ / Sell RL
Chart courtesy of @Chicagostock – $ES_F Update: Rally attempt unable to overcome 2700. Turning into a short term bear flag as mkt chops sideways. Failure to hold Wednesday low, opens door for retest of month low. Bulls must overcome Thursday’s high for shot at 2700 to retest 2760.
After trading higher in the overnight session, the S&P 500 March mini’s opened yesterday’s cash session at 2665.50, and in the first hour of the day traded up to what would be the session high of 2775.25. From there, the futures turned lower, pulling back down to 2649.75 at 10:00, and then after a 16 handle rally, again turned lower late morning, making a 2645.25 low, before getting a modest lift into the midday.
Following a 10.25 handle rally the ES then chopped down to an early afternoon low of 2642.50. Next, the futures rallied to an afternoon high of 2659.00, before trading to a low of day at 2641.25 heading into the final hour. The last move was a late day rally up to 2659.75, followed by a 2653.25 print on the 3:00 cash close, and finally settling the day at 2647.50, down -9.00 handles, or -0.34%.
In the end it was a much quieter day. In terms of the ES’s overall tone, the futures did rally, but weakened late in the day. In terms of the overall trade, only 2 million ESZ19’s traded, and that includes the ESZ/ESM spread volume.
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