Index Futures Net Changes and Settlements:
| Contract | Settlement | Net Change | +/-% |
| S&P 500 (ESZ18:CME) | 2734.50 | +36.00 | +1.33% |
| DowJones (YMZ18:CBT) | 25,305 | +261 | +1.04% |
| Nasdaq 100 (NQZ18:CME) | 6915.50 | +147.25 | +2.17% |
| Russell 2000 (RTYZ17:CME) | 1527.40 | +27.60 | +1.84% |
Foreign Markets, Fair Value and Volume:
- In Asia 7 out of 11 markets closed higher: Shanghai Comp +0.41%, Hang Seng +0.31%, Nikkei -0.57%
- In Europe 8 out of 13 markets are trading lower: CAC -0.48%, DAX -0.35%, FTSE -0.65%
- Fair Value: S&P +1.07, NASDAQ +10.44, Dow -6.01
- Total Volume: 2.37mil ESZ & 1,389 SPZ traded in the pit
As of 8:00 AM EST
Today’s Economic Calendar:
Today’s economic calendar includes Industrial Production 9:15 AM ET, Quarterly Services Report (Advance) 10:00 AM ET, Kansas City Fed Manufacturing Index 11:00 AM ET, Charles Evans Speaks 11:30 AM ET, Baker-Hughes Rig Count 1:00 PM ET, and Treasury International Capital 4:00 PM ET.
S&P 500 Futures: The Big ‘Drops & Pops’ Continue
Chart courtesy of @Chicagostock – $ES_F In contrast to yesterday, cash opened weak today, luring in sellers used to fuel short squeeze back to retesting Wednesday’s failed open.
After a small rally and drop, the S&P 500 futures traded down to 2671.25 7 minutes after Thursday mornings 8:30 open. After the early low, the ES made a sequence of higher highs all the way up to 2711.75, 40.50 handles off the low. The futures proceeded to sell back off down to 2699.25, then rallied up to a lower high at 2710.00 at 11:41, and then broke 19.50 handles down to 2691.50. From there, a huge buy program came in that ran the ES up to a new high at 2726.75 after this headline hit the tape:
“US and China step up effort to strike G20 truce on trade negotiators, explore options that could lead to pact but core issues still intractable.”
Read: https://www.ft.com/content/a6a3cb08-e887-11e8-8a85-04b8afea6ea3
After some back and fill the ES shot up to 2736.75. The next move was a series of small selloffs that pulled the futures all the way back down to 2711.50. Volume at 2:10 was just over 2 million contracts. As the final hour approached, the ES pushed back up to 2731.75, and then back to 2715.75, before chopping higher into the 2:45 MOC release, which amounted to $403 million to buy. The futures continued higher at the end of the day, printing 2731.75 on the 3:00 close, and then went on the settle the day at 2735.50, up +37.00 handles, or +1.37%.
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.
Get all of today’s HotSpots here
SIGN UP HERE TO GET THE FULL MRTOPSTEP OPENING PRINT!
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.
No responses yet