Strong sell off in the Sunday night globex session and then strong rally in Monday’s cash session.

WOW, that was some excellent action from Sunday nights globex session into Monday’s cash session. The S&P500 Emini had a very directed move out of the Sunday night globex session open, with trade all the way back down to the 1025.50 level. This significant pullback allowed sellers, still holding some SHORT inventory in the old contract, the perfect and very convenient opportunity to cover out at break-even or better. The ES did find some buyers after the EU session open to support price which started a methodical grind up rally into the US cash session Monday open. Monday’s cash session trade continued the rally as equities buy program activity throughout the day was forcing the futures side SHORT covering. By the end of the day, the ES was parked very near the recent Friday highs setting up perfectly for that possible end of day equities side push. Did you get to see what happened next, that end of day Delta Volume order flow transition was just amazing……

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