SPI Futures traded in a 78 point range last night, with a high of 5804, low of 5726, and a close of 5744, down 63 points, on higher than lately, but still lowish volume of 14,574 contracts. She gapped down at the open of the night session, which didn't fill, and then meandered downwards for most of the night, leaving gaps up at 5807 (day session close), 5765, then 5690 from a previous day, and lot's more below that. She appeared to be in 'let's see if this rise in US Futures driven by the machine during a US holiday is real or not mode' - they appear to have been correct.
US and the UK back to work, saw hopium for an economic recovery and potential virus vaccine keeping US markets in the green, although off their opening highs as their futures suggested, with Novavax to test on 130 healthy human volunteers in Australia, and Merck 'planning' to develop two different vaccines. Stocks of both company's rose, but closed off their premarket levels. Apparently there are an estimated 10 vaccine's being tested at the moment. Economic data was mostly better than expected, with New Home Sales increasing 0.6 pct m/m, but still down 6.2 pct for the year, and the monthly modest rise was attributed to the lowering of home asking prices, not buyer demand. The Conference Board's Consumer Confidence Index was 86.6 for May, versus 85.7 from April, reflecting some short term hopium for more re-opening of the economy. There were a couple of other's but that's probably enough. The end of day sell-off was attributed to Trump considering sanctions on Chinese officials, businesses and financial institutions owing to the latest Hong Kong news. Hertz filing for Chapter 11 Bankruptcy protection, although it seems not in all country's, as people aren't hiring cars, and ironically, Airline stocks appeared to be on the rise, with the US Global Jets ETF (JETS) up 11.8 pct, even with a rise in the oil price. Yes traders, lot's of interesting'stuff' going on. DOW up 2.17, SNP up 1.23 pct and Canada (resource driven) up less, at .48 pct. VIX down .53 pct to 28.01. US futures re-opened for their night session, slightly in the red, and 'humans' back on the floor of the NYSE, even if the don't do much - or even anything except posing for photograhers... Have a nice day.
Column 1
Column 2
0
mce-anchorH
5804
1
L
5726
2
C
5744
3
R
78
4
R6
5836
5
R5
5817
6
R4
5806
7
R3
5797
8
R2
5788
9
R1
5778
10
PP
5758
11
S1
5739
12
S2
5728
13
S3
5719
14
S4
5710
15
S5
5700
16
S6
5680
Today in 2013, the largest flag ever made, weighing 5 tons with 44 miles of thread was unveiled in Romania. Not sure if it was a bull flag, or a bear flag, but I'm sure it was impressive.
(20min delay)