Index Futures Net Changes and Settlements:
|
Contract |
Settlement |
Net Change |
+/-% |
|
S&P 500 (ESM19:CME) |
2839.25 |
+32.25 |
+1.14% |
|
DowJones (YMM19:CBT) |
25,573 |
+289 |
+1.14% |
|
Nasdaq 100 (NQM19:CME) |
7421.00 |
+106.75 |
+1.45% |
|
Russell 2000 (RTYM19:CME) |
1546.10 |
+26.00 |
+1.71% |
Foreign Markets, Fair Value and Volume:
- In Asia 8 out of 11 markets closed higher: Shanghai Comp +1.91%, Hang Seng +0.52%, Nikkei +0.58%
- In Europe 13 out of 13 markets closed lower: CAC -0.47%, DAX -0.53%, FTSE -0.04%
- Fair Value: S&P +1.44, NASDAQ +11.43, Dow -11.59
- Total Volume: 1.79 million ESM & 604 SPM traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes MBA Mortgage Applications 7:00 AM ET, Retail Sales 8:30 AM ET, Empire State Mfg Survey 8:30 AM ET, Industrial Production 9:15 AM ET, Randal Quarles Speaks 9:30 AM ET, Atlanta Fed Business Inflation Expectations 10:00 AM ET, Business Inventories 10:00 AM ET, Housing Market Index 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET, Tom Barkin Speaks 1:00 PM ET, and Treasury International Capital 4:00 PM ET.
S&P 500 Futures: 10 Year Bull Market Fights Back
Chart courtesy of Stewart Solaka @Chicagostock – $ES_F Dead cat bounce?
Buyers need to overcome Monday’s high and settle above for another shot at 2900. Failure to do so, keeps buyers from last month on the hook for further pressure against late March 2789 low.
Yesterday’s rally actually started when the major Asian markets didn’t react as negatively to Monday’s selloff in the US. This helped Europe rally, which helped propel the #ES higher. It was also Taco Tuesday.
During Monday nights Globex session, the S&P 500 futures (ESM19:CME) printed a high of 2831.50, a low of 2799.75, and opened Tuesday’s regular trading hours at 2822.75.
After popping up to 2832.00 on the 8:30 CT bell, a sell program activated, taking the ES back down to 2821.50. It was starting to look grim, especially after mimicking the same early pattern from Monday’s big selloff. The panic was short lived though, and the futures did an about face to start a trend day higher.
By 11:00, the ES had put in a morning high at 2850.50, and then took a break to do a little back and fill down to 2843.00. From there, the futures continued to grind higher, eventually topping out at 2853.75.
Just before 2:00, the ES started to see some weakness, and made a quick trip down to 2838.25. Then, when the 2:45 cash imbalance reveal came out showing $443M to buy, it dropped down to 2840.25. The futures would then go on to print 2836.00 on the 3:00 cash close, and 2839.25 on the 3:15 futures close, up +32.25 handles on the day.
In the end, the overall tone of the ES was strong. In terms of the days overall trade, total volume was lower, with 1.8 million futures 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.
| ES_F | LONG | |||||
|---|---|---|---|---|---|---|
| Type | Entry | Exit | Trade % | Profit % | Points | HeatMap |
| normal-21 | 1320 | 1358 | 86 | 0.01 | 39.75 | chart |
| normal-13 | 1320 | 1358 | 100 | 0.01 | 39.50 | chart |
| normal-11 | 1318 | 1357 | 100 | 0.01 | 40.75 | chart |
| normal-8 | 1210 | 1250 | 100 | 0.02 | 49.25 | chart |
| normal-5 | 1210 | 1250 | 100 | 0.02 | 43.50 | chart |
| taylorPlus-21 | 1252 | 1350 | 81 | 0.02 | 43.75 | chart |
| taylorPlus-13 | 1203 | 1233 | 92 | 0.01 | 34.50 | chart |
| taylorPlus-11 | 1204 | 1242 | 91 | 0.02 | 48.50 | chart |
| taylorPlus-8 | 1204 | 1242 | 100 | 0.02 | 45.00 | chart |
| taylorPlus-5 | 1207 | 1242 | 100 | 0.01 | 38.50 | chart |
| taylor3-21 | 1307 | 1403 | 81 | 0.02 | 46.75 | chart |
| taylor3-13 | 1450 | 1521 | 92 | 0.02 | 44.75 | chart |
| taylor3-11 | 1450 | 1521 | 100 | 0.02 | 44.50 | chart |
| taylor3-8 | 1203 | 1236 | 100 | 0.02 | 47.75 | chart |
| taylor3-5 | 1151 | 1234 | 100 | 0.02 | 46.25 | chart |
| ES_F | SHORT | |||||
|---|---|---|---|---|---|---|
| Type | Entry | Exit | Trade % | Profit % | Points | HeatMap |
| normal-13 | 1507 | 1543 | -85 | -0.01 | -26.50 | chart |
| normal-11 | 1507 | 1543 | -91 | -0.01 | -25.00 | chart |
| normal-8 | 1000 | 1039 | -87 | -0.01 | -40.25 | chart |
| normal-5 | 1454 | 1551 | -100 | -0.01 | -31.75 | chart |
| taylorPlus-13 | 0939 | 1017 | -85 | -0.01 | -39.75 | chart |
| taylorPlus-11 | 1013 | 1045 | -82 | -0.01 | -18.50 | chart |
| taylorPlus-8 | 0942 | 1031 | -87 | -0.01 | -33.00 | chart |
| taylorPlus-5 | 1451 | 1544 | -100 | -0.00 | -7.25 | chart |
| taylor3-13 | 1056 | 1146 | -85 | -0.02 | -49.25 | chart |
| taylor3-11 | 1056 | 1130 | -91 | -0.01 | -38.00 | chart |
| taylor3-8 | 1506 | 1541 | -100 | -0.00 | -14.00 | chart |
| taylor3-5 | 1056 | 1151 | -100 | -0.01 | -38.50 | chart |
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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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