U.S. Markets Remain Closed Due to Hurricane Sandy

The U.S. markets remain closed today, Tuesday. It is important for markets to open tomorrow, even if only for a couple hours, since funds need the EOM prints, as well as end-of-fiscal-year prints for some funds, for accounting purposes. Futures markets continue to trade but on thin volume. Thus, it is anticipated that trading should resume for Wednesday even if it is an abbreviated session. The pre-scheduled number for 10 AM EST today is tentatively rescheduled to now print on Thursday at 10 AM. The waiting game continues.  The parameters listed in the previous post remain in place once trading does resume. Millions of people are experiencing power outages across New York and the East Coast.

Note Added 10/31/12 at 4:14 AM EST:  U.S. markets are scheduled for a normal operating day today and opening at 9:30 AM EST.  Volume should be light, with volatility elevated, so the price movement may become dramatic today. This will be the first trading day this week for the SPX. The S&P futures are up 9.