Globex has been down most of the day due to technical difficulties. They were planning on re-opening it at 3:15 EST, but they couldn’t get that done. So it will remain closed for the rest of the day. Because so many traders can’t do anything with Globex down, I wouldn’t read too much into today’s action. There were likely a lot of traders who were short the E-Mini S&P 500 futures contract that decided to rush in and buy the S&P 500 just to hedge themselves. I guess we’ll know tomorrow.
