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Index Futures Net Changes and Settlements:
| Contract | Settlement | Net Change | +/-% |
| S&P 500 (ESU18:CME) | 2898.25 | -3.75 | -0.12% |
| DowJones (YMU18:CBT) | 25,985 | -3 | -0.01% |
| Nasdaq 100 (NQU18:CME) | 7638.75 | -22.50 | -0.29% |
| Russell 2000 (RTYU:CME) | 1734.60 | -6.00 | -0.34% |
Foreign Markets, Fair Value and Volume:
- In Asia 11 out of 11 markets closed lower: Shanghai Comp -1.68%, Hang Seng -2.61%, Nikkei -0.51%
- In Europe 11 out of 13 markets are trading lower: CAC -0.89%, DAX -0.60%, FTSE -0.45%
- Fair Value: S&P +0.52, NASDAQ +4.47, Dow +13.07
- Total Volume: 1.60mil ESU & 725 SPU traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes MBA Mortgage Applications 7:00 AM ET, International Trade 8:30 AM ET, Redbook 8:55 AM ET, James Bullard Speaks 9:20 AM ET, John Williams Speaks 12:30 PM ET, John Williams Speaks 3:00 PM ET, Neel Kashkari Speaks 4:00 PM ET, John Williams Speaks 5:30 PM ET, and Raphael Bostic Speaks 6:30 PM ET.
S&P 500 Futures: #ES Drop And Pop
It should come as no surprise that the S&P 500 futures dumped yesterday. For the last two weeks I have been saying the ES was in need of a 20 to 30 handle pullback and some back and fill, and that it would be healthy for the market. I am not 100% sure the ES won’t get bushwhacked by wayward a headline, but I think there could be another bounce coming soon.
The ES traded down to 2891.75 on Globex, down -14.00 handles, and opened Tuesday morning at 2897.50. After the open the ES sold off down to 2886.25, rallied up to 2900.00, pulled back down to the 2894.00 area, and then made a higher high at 2901.00 around 10:15. After the rally the ES dumped back down to a new low at 2885.50, and then pushed back up to 2899.00 as the MiM started to show over $300 million to sell.
At 2:41 the futures traded back down to the vwap at 2893.75, total volume was 1.29 million contracts traded. On the 2:45 cash imbalance the ES traded 2894.75 as the MIM dropped to over $800 million to sell. On the 3:00 cash close the ES traded 2897.25, and went on to settle at 2898.50 on the 3:15 futures close, down -3.50 handles, or -0.12% on the day.
In the end, the total volume ended up 1.3 million contracts traded, but the volume was carried over from Sunday night into Monday, and Monday night into Tuesday mornings Globex sessions. In terms of the ES’s overall tone, it acted weak and was unable to hold the rallies above the big figure at 2900.00, but that doesn’t mean it won’t.
Daily HotSpots
HotSpots are times during the market trading session that for the past XX days have consistently moved in one direction or the other. These HotSpots are published each morning pre-market. The next day, a results post is also published and weekly a summary post.
CAUTION: This data is under development and provided only for research and teaching purposes
If you have questions about HotSpots you can contact us at info@mrtopstep.com.
Normal
Normal is a straight trading day count. A 5 day normal on a full-trading week would include Monday through Friday. A 5 day normal on a Monday holiday week would be the previous week’s Friday, skip Saturday, Sunday and holiday Monday and then Tuesday through Friday.
Early close days are considered non-trading in our normal count and are therefore skipped also.
| 09-05-2018 | 5-normal | Entry | Exit | Trade | Profit | Profit | |
|---|---|---|---|---|---|---|---|
| Contract | Direction | Time | Time | % | % | Points | HeatMap |
| CL_F | long | 1121 | 1130 | 100 | 0.01 | 0.60 | |
| CL_F | short | 1410 | 1424 | -100 | -0.01 | -0.77 | |
| ES_F | long | 0953 | 1008 | 100 | 0.01 | 14.75 | |
| ES_F | short | 1134 | 1159 | -100 | -0.00 | -13.00 | |
| NQ_F | long | 0950 | 1015 | 100 | 0.01 | 72.25 | |
| NQ_F | short | 1132 | 1145 | -100 | -0.01 | -43.00 | |
| YM_F | long | 1048 | 1104 | 100 | 0.00 | 98.00 | |
| YM_F | short | 1133 | 1159 | -100 | -0.00 | -120.00 |
Trading dates are:
[“2018-08-28″,”2018-08-29″,”2018-08-30″,”2018-08-31″,”2018-09-04”]
To read this chart using CL_F above, a Long from 11:21 until 11:30 ET has been profitable 100% of the time over the last 5 days.
Click here to view all of today’s HotSpots
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As always, please use protective buy and sell stops when trading futures and options.
Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
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