From One Closing Ramp To Another
Presented with little comment - for any comment would simply end in ridicule and exasperation - but it seems quite clear that more than a few algos feel the need to keep S&P 500 futures above 1400 into the month-end and OPEX. S&P futures closed at 1411.25 (+3.75 from Friday's close).
S&P 500 futures repeated their closing ramp to test up to Friday's late-day highs; obviously volume was negligible but average trade size was relatively large into the ramp.
With Treasuries still closed, CONTEXT remains relatively quiet but for some idea of where FX and commodity prices are relative to equities' ramp:
The USD is down modestly on the week (-0.18%), Gold is barely positive at $1713 (+0.1%) with thre rest of the commodity complex lower on the week.
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