Can someone explain the S&P futures vs Fair Value, and some of the ways it's used to interpret the market? For example, this morning prior to the open, it was quoted as: 6:22 AM -1.3 8:00 AM -0.7 8:20 AM -0.7 8:40 AM -0.1 8:55 AM +0.8 9:15 AM +0.6 (these were CST, by the way) How do traders interpret this? Is this the futures value relative to the cash? What information does this give us? Thanks for any help!