The S&P Futures Fakeout: Down at Dawn, Up at Noon, Then a Fade

If you’re a stock trader, you probably sense this. It’s the daily contour of the U.S. market, displayed in a composite chart that averages five-minute price points in S&P 500 futures over the last two months. The picture is of a benchmark that steadily weakens overnight, perks up when American traders hit their desks, then slowly fades into the close.


David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.