Trader's Daily Notebook: Grocery List Isn't Exactly Made Up of 'Staples'

Thursday's E-Mini S&P 500 futures (Es) auction turned out to be a pretty benign event, with traders quickly fading the bullish gap around 2447.50, but failing to trigger meaningful bearish extension beneath Wednesday's intraday lows. Value did migrate 4.5 handles lower on a closing basis, but as discussed in Thursday's note, we're still trading above Tuesday's bullish gap.

Barring a surprise headline out of the Jackson Hole Economic Policy Symposium, I'd expect relatively contained trading on Friday, with likely extremes near 2448.50 to 2454 on the high end, and 2428.25 on the low end....692 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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