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Market Review:
Rollover:
Expiration of the June contract in Index Futures occurs Friday June 16, 2023.
In advance of expiration, we will be rolling our index futures into the September contract after this trade day is finished. The September contract is designated with the letter code U. Depending on your data provider, and or trading platform, the new symbol will have either a 1- or 2-digit year designation. For instance, the ES symbols change from ESM23 to ESU23, or from ESM3 to ESU3.
You will want to make sure that you make these changes after the trading day. Also expect some confusion occurring at the start of next week.
In index futures, this event only occurs 4 times a year. Currently the price difference between the M and U contract is 43 points.
Over 70% of stocks track with the S&P 500 Futures
Major Events:
June 13 CPI
June 14 PPI
June 14 FOMC Announcement and Press Conference
June 15 Retail Sales
Key Numbers Opens: Above or Below
4297.75 is the open
4288.00 is the open of the Week
4188.50 is the open of the Month
4127.00 is the open of the 2nd Quarter
3895.00 is the open of 2023
What's Hot and Not!
Apple
AAPL 176.40, a close below this level is something to bear in mind as you evaluate the market moving forward. The last time we traded below that level was May 26. AAPL went up to 184.95 earlier this week.
Markets have been up early. Watch the European cash close (11:30am ET).
Past performance is not indicative of future results. Futures trading involves substantial financial risk.
Please consult your personal financial advisor before using this information for your own trading purposes.
RISK DISCLAIMER There is a very high degree of risk involved in trading.. DTI Trader and all individuals affiliated with this site assume no responsibility for your trading results. The indicators, strategies, columns, and all other features are for educational purposes only and should not be construed as advice. Information for futures trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein.
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