CME Holiday Schedule

The MOM team wishes all our subscribers in the US, a Very Happy Thanksgiving! Below is the CME Holiday Schedule for trading hours during Thanksgiving, Christmas and New Years. The list below is for equity products only. The CME full product calendar can be found here.

Wednesday, Nov 26
1615 CT / 1715 ET / 2215 UTC – Regular close
1700 CT / 1800 ET / 2300 UTC – Regular open for trade date Friday, Nov 28*
Thursday, Nov 27
1200 CT / 1300 ET / 1800 UTC – Trading halt (pre-open)
1700 CT / 1800 ET / 2300 UTC – Products resume trading
Friday, Nov 28
1215 CT / 1315 ET / 1815 UTC – Early close

Wednesday, Dec 24
1215 CT / 1315 ET / 1815 UTC – Early close
Thursday, Dec 25
Christmas Day Observed – Globex closed
1700 CT / 1800 ET / 2300 UTC – Regular open for trade date Friday, Dec 26
Friday, Dec 26
1615 CT / 1715 ET / 2215 UTC – Regular close

Wednesday, Dec 31
1615 CT / 1715 ET / 2215 UTC – Regular close
Thursday, Jan 1
New Years Observed – Globex closed
1700 CT / 1800 ET / 2300 UTC – Regular open for trade date Friday, Jan 2
Friday, Jan 2
1615 CT / 1715 ET / 2215 UTC – Regular close

Have a Happy Thanksgiving! Eat smart, not more often!

“Proper turkey preparation is critical. According to the U.S. Department of Agriculture, more Americans die every year from eating improperly cooked turkey than were killed in the entire Peloponnesian War. This is because turkey can contain salmonella, which are tiny bacteria that, if they get in your bloodstream, develop into full-grown salmon, which could come leaping out of your mouth during an important business presentation.” (Click on link for a few Holiday Survival Thoughts)

 

 

FOLLOWING THE AUCTION – TREND

This week in our series, Following the Auction, the glossary term we’re looking at is trend.

Trend …  A market price movement in a clear direction, up or down, over time.  We know ‘trend’ is time frame relative. For example the monthly time-frame is making higher highs and higher lows in an uptrend, see chart at the top. This month’s numbers are,

• November open – 2011.25
• low – 1995.25
• high – 2072.50
• Friday’s 11/23 close – 2061.75

One of the most famous trend-traders is Richard Dennis, his style was about mammoth home runs and many smaller strikeouts. A favorite trading quote to keep in mind as we reach the 200% extension from the recent correction…. ‘Remember the trend is your friend… til it’s not.’ 

The weekly time-frame (below) is trending higher, making higher highs and higher lows. Please click on chart to enlarge.

The daily time-frame is also trending higher. The steep ascent has softened however. Please click on chart to enlarge.

Check in Monday morning and get Man Over Market’s Pre-Market update with the Bull/Bear line, support and resistance on several markets. Pat Tabet and Charles Cochran start the early morning updates followed by Lewis Borsellino’s pre-market video of the market day ahead followed by updates throughout the day on an on-needed basis.

Have a great week! Trade smarter, not more often! 

 

 

FOLLOWING THE AUCTION – GRIND

This week in our series, Following the Auction, covering terms from our glossary, we’re looking at recent market action to illustrate Grind.

Grind … we sometimes refer to a market slowly moving in one direction as a grind. The recent 10% market ‘correction’, has rebounded to new S&P market highs, leaving us in uncharted territory. In the last four weeks since the correction low, we’ve seen three impulse moves of 50+ points, followed by shallow retracements, followed by the market slowly moving in one direction in a grinding manner, with last week showing slowing progress.

The weekly ranges since the correction have contracted from the initial 93 points to 89 points to 72.25 points, to last week’s grinding 38.25 points.

On this chart, from the last impulse move, the market has tagged the 61.8 extension at 2030.75, with the 100% extension at 2052.75.

Notice the volume profile (in gold) has an upper distribution (dashed red arrow) that spans 1887 to 2000, with 1987 to 1993, and 1960 to 1964, two prominent high volume areas below, (solid red arrows).

Coming into this week, will the market continue to grind higher to fulfill the 100% extension statistic?    Or has the rubber band stretched too far and it’s time to snap back? Please click on image to enlarge chart.

Key references to start are the OVN all time high, 2033.50, Friday’s low, 2021, the previous all time high, 2014.50 and last weeks low of 1995.25.

What’s coming up this week? Check in Monday morning for Pat Tabet and Lewis Borsellino’s updates for some key  market analysis. Trade smarter not more often! Have a great week!