China Demands Respect To Continue Trade Talks

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Index Futures Net Changes and Settlements:

ContractSettlementNet Change+/-%
S&P 500 (ESM19:CME) 2752.50-38.00-1.36%
DowJones (YMM19:CBT)24,820-370-1.46%
Nasdaq 100 (NQM19:CME)7133.50-121.75-1.67%
Russell 2000 (RTYM19:CME)1466.50-19.90-1.33%

Foreign Markets, Fair Value and Volume:

  • In Asia 6 out of 11 markets closed lower: Shanghai Comp -0.30%, Hang Seng -0.03%, Nikkei -0.92%
  • In Europe 12 out of 13 markets are trading lower: CAC -0.06%, DAX -0.11%, FTSE -0.15%
  • Fair Value: S&P +0.38, NASDAQ +4.03, Dow +5.76
  • Total Volume: 2.19 million ESM & 629 SPM traded in the pit

*As of 7:00 a.m. CST

Today’s Economic Calendar:

Today’s economic calendar includes PMI Manufacturing Index 9:45 AM ET, ISM Mfg Index 10:00 AM ET, Construction Spending 10:00 AM ET, James Bullard Speaks 1:25 PM ET, and Mary Daly Speaks 9:45 PM ET.


S&P 500 Futures: End Of The Month Rebalance Walk Away Trade

Chart courtesy of Scott Redler @RedDogT3 $spx futures -8 off the overnight lows. We’ll see if we reclaim 2750 or see 2703-2722 first.

During Thursday nights Globex session, the S&P 500 futures (ESM19:CME) printed a high of 2776.00, a low of 2753.75, and opened Friday’s regular trading hours at 2760.50.

After weakness due to another barrage of Trump tweets overnight, the ES continued to trade lower after the 8:30 CT bell. At 9:00, an early low at 2751.00 was established, then things started to brighten up a little. Waves of buying started to come in, taking the futures first up to 2759.00, then 2764.25, and eventually up to 2769.50.

That was it for the bulls though. The ES failed to print a new high, and things turned sour from there. By noon the futures had traded back down to 2756.50, then 2752.00 by 1:30, and 2750.50 by 2:30.

Going into the close, when the 2:45 cash imbalance reveal came out showing $382 million to sell, the ES had popped up to 2756.00, then went on to close out the day at 2752.00, down over 40 handles.

In the end, the overall tone of the ES was weak. In terms of the days overall trade, total volume was higher, with 2.2 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_FLONG
TypeEntryExitTrade %Profit %PointsHeatMap
normal-2113201352860.0244.50chart
normal-1309511035850.0387.75chart
normal-1109511035820.0257.00chart
normal-813191349880.0013.00chart
normal-511541249800.0125.25chart
taylorPlus-2110421141900.0259.00chart
taylorPlus-1310411115920.0125.75chart
taylorPlus-1111041200910.0132.25chart
taylorPlus-813291359880.0125.25chart
taylorPlus-5103811141000.0010.50chart
taylor3-2113061336860.0134.50chart
taylor3-13132314081000.0126.25chart
taylor3-11120012491000.0248.50chart
taylor3-8115812491000.0254.25chart
taylor3-5150415381000.0244.25chart
ES_FSHORT
TypeEntryExitTrade %Profit %PointsHeatMap
normal-2113591457-81-0.01-27.50chart
normal-1313591455-92-0.02-54.25chart
normal-1114231520-91-0.02-45.25chart
normal-809371014-100-0.01-24.50chart
normal-513511439-100-0.01-39.75chart
taylorPlus-2110031045-81-0.02-52.25chart
taylorPlus-1315021543-92-0.02-61.50chart
taylorPlus-1114541543-91-0.02-64.75chart
taylorPlus-814541543-100-0.02-60.50chart
taylorPlus-514481542-100-0.02-48.75chart
taylor3-2110561130-81-0.02-57.00chart
taylor3-1314081438-92-0.01-34.50chart
taylor3-1111131146-91-0.01-36.50chart
taylor3-810311118-100-0.02-45.75chart
taylor3-510321103-100-0.01-27.25chart

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Danny Riley has worked in the futures and options industry for 38 years, including the CBOT’s bond room, where he worked for several of the Market Wizards. He went on to build the largest volume desk in the S&P 500 Index Futures, serving some of the largest banks and hedge funds, the UBS program trading business, and some of the world's top individual traders. As a leader and co-creator of the MrTopStep IM-Pro Trading Room, he shares trading ideas and breaking market news live from the floor with our other professional traders and new traders eager to experience the power of collective intelligence. Join us today and get the edge only social trading can give you.


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