I have a confession to make…
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Index Futures Net Changes and Settlements:
| Contract | Settlement | Net Change | +/-% |
| S&P 500 (ESZ18:CME) | 2894.00 | -13.75 | -0.47% |
| DowJones (YMZ18:CBT) | 26,492 | -160 | -0.60% |
| Nasdaq 100 (NQZ18:CME) | 7436.00 | -78.25 | -1.05% |
| Russell 2000 (RTYZ17:CME) | 1639.40 | -11.20 | -0.68% |
Foreign Markets, Fair Value and Volume:
- In Asia 10 out of 11 markets closed lower: Shanghai Comp -3.72%, Hang Seng -1.39%, Nikkei -0.80%
- In Europe 13 out of 13 markets are trading lower: CAC -0.84%, DAX -0.78%, FTSE -0.50%
- Fair Value: S&P +3.89, NASDAQ +22.55, Dow +9.51
- Total Volume: 2.28mil ESZ & 290 SPZ traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Columbus Day Holiday, and the TD Ameritrade IMX at 12:30 PM ET.
S&P 500 Futures: Tech Stock Bloodbath
After taking a beating Thursday, the s&p 500 futures rallied up to 2915.00 on Globex, and sold off to 2895.25 after the U.S. jobs report showed a lower than expected 146,000 jobs, and the rallied back up to 2911.25 at 8:15 am, 15 minutes before Friday’s futures open. The first print of the day after the 8:30 bell came in a 2907.50. The futures then pulled back a few handles before rallying up to 2914.00 at 8:37 am, and then dumped down to 2899.75.
At 12:00 CT, the ES got hit by a huge tech sell program that pulled the futures all the way down to 2876.50, down -31.25 handles. The ES made a double bottom at 2872.25 and then rallied 20 handles all the way up to 2892.50 handles at 2:10 CT. From there, the futures dropped back down to the 2885 level as the MiM started to show small to buy, and then rallied back up to the vwap at 2894.75 at 2:46, one minutes after the 2:45 cash imbalance reveal. On the 3:00 cash close the ES traded 2890.50, and went on to settle the day at 2894.25, down -13.5 handles on the day, or down -0.46%.
In the end, it was a vicious day of algorithmic and high frequency buy and sell programs, mostly centered on the Nasdaq futures. In terms of the markets overall tone, it was all about liquidation and margin selling until midday, and then in came the buy programs. In terms of the days overall trade, there was mammoth volume, 2.3 million ES contracts traded, and 730,000 NQ’s traded.
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.
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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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