![](https://mrtopstep.com/wp-content/uploads/2019/01/Chart-01-28-2019.png)
Index Futures Net Changes and Settlements:
Contract |
Settlement |
Net Change |
+/-% |
S&P 500 (ESH19:CME) |
2663.50 |
+29.50 |
+1.11% |
DowJones (YMH19:CBT) |
24,696 |
+238 |
+0.97% |
Nasdaq 100 (NQH19:CME) |
6791.25 |
+116.25 |
+1.74% |
Russell 2000 (RTYH19:CME) |
1482.60 |
+21.70 |
+1.48% |
Foreign Markets, Fair Value and Volume:
- In Asia 7 out of 11 markets closed lower: Shanghai Comp -0.18%, Hang Seng +0.03%, Nikkei -0.60%
- In Europe 11 out of 13 markets are trading lower: CAC -0.56%, DAX -0.28%, FTSE -0.44%
- Fair Value: S&P -0.87, NASDAQ +5.75, Dow -35.39
- Total Volume: 1.37mil ESH & 238 SPH traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Chicago Fed National Activity Index 8:30 AM ET, and the Dallas Fed Mfg Survey 10:30 AM ET.
S&P 500 Futures: Choppy Session
![](https://mrtopstep.com/wp-content/uploads/2019/01/Chistock-Chart-01-28-2019.png)
Chart courtesy of @Chicagostock – $ES_F Sharing what we were looking at yesterday. H/S formation w break of neckline that failed to see expansion. Globex provided a retest where sellers failed to expand lower. Move over 2643 triggered squeeze > head 264750, forcing shorts to cover.
After rallying Thursday night, the S&P 500 futures opened Friday’s regular session at 2661.25, and made an early low at 2656.50 before bids came swooping back in. Buying pressure helped push the futures up to 2671.50 just before 10:00, then after an 8.25 handle pullback, the ES relaunched, making a high of day at 2672.50, but quickly sold off down to 2660.25 heading into the noon hour.
The afternoon saw a lower high at 2668.25, followed by a grind lower heading into the close. The benchmark futures contract made an afternoon low at 2657.50 going into the final hour, and closed the day at 2663.25, up +29.25 handles.
In the end the, ES’s overall tone remains firm, but ‘suspect.’ In terms of the days overall trade, only 1.37 million contracts 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.
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.
![](https://mrtopstep.com/wp-content/uploads/2019/01/Lookbacks-Long-01-28-2019.png)
![](https://mrtopstep.com/wp-content/uploads/2019/01/Lookbacks-Short-01-28-2019.png)
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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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