ES 1255.50 support?

[tradewiz]

lots of activity here and it is holding so far, thoughts?

 

[storm121]

you wont see those prices again in your lifetime.

 

[MTE]

It's the overnight limit down level, hence the "support".

 

[kashirin]

Quote from MTE:

It's the overnight limit down level, hence the "support".

anyway it's like some sort of arbitrage
I made already 3 round trips 1255-1260

 

[tradewiz]

what if it breaks down? how long will be the lock?

 

[pumpanddumper]

Yeah, thats "new support".

Maybe one more panic drop by the bell if we see that number again.

 

[MTE]

Quote from tradewiz:

what if it breaks down? how long will be the lock?

Until regular hours. Check out CME for details on circuit breakers.

 

[Jayford]

Quote from tradewiz:

what if it breaks down? how long will be the lock?

We get another 70 points down in ES before the next limit so I wouldn't worry about it today. Its only a ten min halt anyway.

 

[Hofferino]

Quote from Jayford:

We get another 70 points down in ES before the next limit so I wouldn't worry about it today. Its only a ten min halt anyway.

Not clear on how overnight circuit breakers work, but ES futures clearly halted at 1255.50 for more than an hour at about 2-3 this morning, maybe longer.

 

[MTE]

Quote from Jayford:

We get another 70 points down in ES before the next limit so I wouldn't worry about it today. Its only a ten min halt anyway.

Actually, no, overnight they can't go down more than 70 points, period. Check out CME's website!