Where Will S&P Futures Re-Open?
It seems the bond market was onto something today in its lack of exuberance. Following the after-hours FrAAnce downgrade, which very conveniently happened 2 minutes after the ES quiet period started, EURUSD has tumbled giving the day-session's gains back and retraced back to where Treasuries ended the day. This would infer S&P futures open down notably - around 1370-75 (note 1377 was closing VWAP and may be support).
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