E-mini S&P (March) / E-mini NQ (March)
S&P, yesterday’s close: Settled at 6677.50, down 102.00
NQ, yesterday’s close: Settled at 24,560.00, down 423.50
E-mini S&P and E-mini NQ futures were down sharply ahead of yesterday’s opening bell and simply could not gain any traction. All sectors were down, except energy and utilities, while staples also squeaked out a 9bps gain. Industrials and consumer discretionary were the worst performers, each down more than 2%. Indices made new session lows into the close, extending losses overnight, before stabilizing and turning positive ahead of the opening bell.
The second look at Q2 GDP came in worse than expected at +0.7.% q/q, down from +1.4% on the first look. Also, the delayed release of PCE for January showed inflation was contained-to-soft, which is better than the perceived trend. This has helped relieve some downward pressure on short-end Treasuries.
E-mini S&P and E-mini NQ futures chopped in a range yesterday. Ultimately, a breakout from this range will encourage some directional bias. The intraday low, before the late-session selling, will be used as the range support, aligned with settlement at 6677.50-6684.50 in the E-mini S&P and 24,561-24,609 in the E-mini NQ. Given the rebound from overnight, we could see momentum north take hold, but price action must hold above our Pivot and point of balance at 6698.75-6706.75 in the E-mini S&P and the recurring 24,651-24,694 in the E-mini NQ. However, if this morning stabilization fades, it is imperative that we do not see a close below…
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Originally Posted on March 16, 2026 – Stocks Look to Rebound After Broad Market Rout
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