Quiet and Boring
The equity index futures complex has been marked today by crossword puzzles, light volume and odds/bets being taken on the election outcome. As for the trade in the SPZ, we have been relatively contained within yesterday afternoon’s range, and it feels like it will take an act of Congress to get us out.
Moving forward, the question now becomes where do we go from here? I’m not too optimistic moving forward. In fact, if we get into the 1411.50-1421 range, I would look to be a heavy seller for a 2-4 week trade. Other than that, this market is slow and boring — if however, we break lower than the 1381 level, I would look to sell ’em for a move to 1368.