As all eyes move towards the US election, it seems the bears let the bulls take the reins in the S&P 500 index futures during Tuesday’s session.
Once the overnight Globex session was underway, bulls quickly found their footing at last week’s low and kept the index futures in the green for the majority of premarket hours. After the opening bell rang, bulls took full control and instigated a rally straight through the premarket high and beyond.
Resistance first came in near the weekly pivot, and once the bulls surpassed that level, sellers held their ground around Friday’s high. Despite coming up against resistance, bulls never gave much back throughout the rest of the trading session, even rallying into the closing bell.
The session concluded virtually at the intraday high at 5812.25, gaining a nice 69 handles. After hours, bulls continued their rally to make a new daily high of 5823.25.
Among the top components of the index, Tesla Inc (NASDAQ: TSLA) emerged as the biggest gainer. The EV maker was able to advance by $8.60 or 3.54% to close at $251.44 for the day.
That performance was nearly triple the cash index’s advance of 1.21%.
The one and only loser among top components was Eli Lilly And Co (NYSE: LLY). For the day, the healthcare company had a scratch decline of $0.28 or 0.03% to close at $806.06.
