S&P Futures gain as Office Depot & Office Max may merge
|5 min ES|
Coming off the holiday weekend and a positive German consumer sentiment reading, the S&P 500 futures are higher by 3.50 points to 1520.50 after support held at 1515.25. Resistance for the ES remains @ 1521 followed by 1522-25, support under 1515.25 is at 1514-1510.
Currently the DX is higher by 0.14% @ 80.69 with 80.83 being resistance and last weeks high. Bond futures are largely unchanged with the 30 year @ 143’15, unchanged.
|1 hour DX. notice the non stop
That being said my take on the day is if we break overnight support we are going to test 1510 support from last week, if it fails will be quick drop to 1505.
ES over 1521.75 means back to 1522 and a run into 1525. 1518.25 is the mid-line of the 1521.75 and 1515.50. Going to be a grind today, not many catalysts, trade what you see.
|15 min CL|