Dow Down 660 Points Thursday, Up 740 Points Friday

Index Futures Net Changes and Settlements:

Foreign Markets, Fair Value and Volume:

• In Asia 11 out of 11 markets closed higher: Shanghai Comp +0.72%, Hang Seng +0.82%, Nikkei +2.44%
• In Europe 7 out of 13 markets are trading lower: CAC -0.59%, DAX -0.57%, FTSE -0.57%
• Fair Value: S&P +0.45, NASDAQ +13.48, Dow -21.64
• Total Volume: 2.34mil ESH & 621 SPH traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes Factory Orders 10:00 AM ET, ISM Non-Mfg Index 10:00 AM ET, TD Ameritrade IMX 12:30 PM ET, and Raphael Bostic Speaks 12:40 PM ET.

S&P 500 Futures: China PMI, Blowout Jobs Report And Fed Willing To Adjust Rake Hit Path

After rallying higher in the overnight session, the S&P 500 futures opened Friday’s regular session at 2483.0, and made an early low of day at 2478.75 just after the bell. Heavy buy programs came in and began to give the markets a lift, pushing the ES up to 2503.25 just after 9:00, and then retraced to 2487.75 before the Fed’s Powell comments came out. From there, stocks shot higher, and wouldn’t stop. The ES traded 2521.25, retraced 12.75 handles, and then continued to rally to 2526.50, dropped 16.50 handles, and rallied up to 2535.25 to close the morning.

The afternoon didn’t see a new high, as buying tapered off, and the equity futures traded sideways to lower into the final hour as the MiM grew to the sell side. The last hour saw the afternoon low print at 2522.50, and then a small a rally as the actual MOC came out more than $500 million to sell. The ES went on to print 2532.50 on the 3:00 close, and settled the day at 2531.25, up +79.50 handles, or +3.24%.

NOFT Playbook

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.

Lookbacks:

The lookback period (number of days) is set at 21,13,11,8 and 5 days. A heat-map is generated for each of these lookback periods, the best trade from day is scored.
The period of time that has consistently produced the best results becomes the hotspot for that look back. There are also different look-back types like Taylor and Taylor Plus.
Taylor cycles are usually 3-day cycles. A Taylor-5 look-back would use the last 5 trading days skipping back by 3 trading days. Taylor Plus uses calendar days so weekends and none
trading days are counted as part of the skip count. If a lookback period falls on a none trading day, it is not used so a TaylorPlus will continue skipping back until 5 trading days are found for the heatmap calculation.

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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.}