S&P 500 Futures: Turnaround Tuesday Sellers Spoil Monday’s Rally
After a 39.25-handle overnight range, the S&P 500 futures opened Tuesday’s regular session at 3900.75 and traded the daily high of 3903.50 on the open before sellers took charge, pushing the index futures lower throughout the early morning down to 3868.25 just after 10:30 CT. Buyers came in at that point giving life to equities that would last through the rest of the morning and into the noon hour when the ES hit a lower high of 3900.00 just before 1:00. The afternoon gave way to sellers who would manage to push the markets down to a new low of day, printing 3865.50 just before 3:00 before settling at 3872.75, down 29.50 handles on a total volume of a solid 1.6 million contracts traded. In terms of price action, it was all about selling the open, buying the midmorning low, then selling the midday high, and covering near the close.