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S&P 500 Micro Mar '23 (ETH23)

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S&P 500 Micro Futures Market News and Commentary

S&P 500 and Nasdaq 100 Post Record Highs on Rate Cut Expectations

The S&P 500 Index ($SPX) (SPY) Friday closed up +0.54%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.17%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.02%.

Stock indexes Friday settled moderately higher, with the S&P 500 and Nasdaq 100 posting new record highs.  Stocks found support Friday after the US June payroll report bolstered the outlook for the Fed to cut interest rates this year.  Jun nonfarm payrolls rose more than expected by +16,000, but May payrolls were revised lower by -54,000.  T-note yields tumbled after the US Jun unemployment rate unexpectedly rose to a 2-1/2 year high, and Jun average hourly earnings posted their slowest annual pace of increase in 3 years.

Weaknesses in energy stocks were a negative factor for the overall market after crude prices gave up an early advance and turned lower.  Also, airline stocks retreated Friday after Raymond James downgraded Spirit Airlines and Frontier, citing “weaker fare trends.”  In addition, N... Read more

Contract Specifications

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Contract
E-Micro S&P 500 Index
Contract Size
$5 times Index
Tick Size
0.25 points ($1.25 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (Settles 3:00p.m.) CST
Exchange
CME
Point Value
$5
Margin/Maintenance
$1,364/1,240
First Notice Date
03/17/23
Expiration Date
03/17/23 (expired)

Seasonal Chart

S&P 500 Micro Mar '23
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of Jun 25, 2024

View Chart Details
Commercials - Long / Short
27,122 (-2,617)
11,430 (-25,101)
Non-Commercials - Long / Short
21,671 (-184,243)
30,251 (-33,491)
Dealers / Intermediary - Long / Short
1,027 (-1,650)
2,351 (-7,114)
Asset / Manager - Long / Short
27,310 (+293)
N/A
Leveraged Funds - Long / Short
20,253 (-184,235)
33,406 (-38,441)
Other Reportables - Long / Short
0 (-1,268)
5,721 (-13,037)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
3,808.75 +3.89%
on 03/13/23
4,089.50 -3.24%
on 02/21/23
-130.45 (-3.19%)
since 02/17/23
3-Month
3,788.25 +4.46%
on 12/22/22
4,208.50 -5.97%
on 02/02/23
+78.05 (+2.01%)
since 12/16/22
52-Week
3,531.00 +12.07%
on 10/13/22
4,665.00 -15.18%
on 03/29/22
-468.45 (-10.59%)
since 03/17/22

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Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Soft Signal Strength.

Key Turning Points

3rd Resistance Point 4,034.37
2nd Resistance Point 4,005.18
1st Resistance Point 3,981.12
Last Price 3,957.05s
1st Support Level 3,927.87
2nd Support Level 3,898.68
3rd Support Level 3,874.62

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52-Week High 4,665.00
Fibonacci 61.8% 4,231.81
Fibonacci 50% 4,098.00
Fibonacci 38.2% 3,964.19
Last Price 3,957.05s
52-Week Low 3,531.00

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