Index Futures Net Changes and Settlements:
| Contract | Settlement | Net Change | +/-% |
| S&P 500 (ESU19:CME) | 2926.25 | +29.75 | +1.02% |
| DowJones (YMU19:CBT) | 26,504 | +366 | +1.40% |
| Nasdaq 100 (NQU19:CME) | 7673.50 | +112.25 | +1.48% |
| Russell 2000 (RTYU19:CME) | 1554.90 | +17.10 | +1.11% |
Foreign Markets, Fair Value and Volume:
- In Asia 11 out of 11 markets closed higher: Shanghai Comp +0.96%, Hang Seng +2.56%, Nikkei +1.72%
- In Europe 7 out of 13 markets are trading higher: CAC +0.11%, DAX +0.07%, FTSE -0.26%
- Fair Value: S&P +5.13, NASDAQ +29.51, Dow +17.79
- Total Volume: +2.24 million ESU & 9.4k SPU traded in the pit
*As of 7:00 a.m. CST
Today’s Economic Calendar:
Today’s economic calendar includes MBA Mortgage Applications 7:00 AM ET, EIA Petroleum Status Report 10:30 AM ET, FOMC Meeting Announcement 2:00 PM ET, FOMC Forecasts 2:00 PM ET, and Fed Chair Press Conference 2:30 PM ET.
S&P 500 Futures: #ES 2936.50, #NQ 7722.00
Chart courtesy of Scott Redler @RedDogT3 – $spx futures flattish ahead if the Fed. Have your levels and terms handy come 2:00-2:30 and watch the False Moves as they try and test both sides usually.
After rallying during Monday nights Globex session, the S&P 500 futures initially pulled back a little after the 8:30 CT bell, and then Trump posted a tweet about extended talks with President XI of China at the G20 summit next week, and the markets EXPLODED! In a matter of minutes, the ESU had rallied 22.25 handles, and the NQU rallied 86.75 points.
Once the initial thrust subsided, the futures continued to grind higher, and eventually topped out at 2936.50. From there, sellers stepped in, and for the rest of the day there was a steady grind lower.
Heading into the final hour, the ES had retraced nearly half of its RTH gains, and when the MiM reveal came out showing $691 million to sell, it was trading at 2823.75. There was a little late strength going into the close, and the futures went on to print 2923.50 on the 3:00 cash close, and 2926.75 on the 3:15 futures close.
We all like a market that trends, but with the ES up 208 handles since making its 2728.75 low just two weeks ago, one has to wonder when the boys with the better seat will hit the breaks. The ECB lowering rates and Trump boasting a meeting with Xi at the G20 is now old news. What’s not old news is today’s rate decision. While odds favor no rate hike, I would like to add that the stock market trades off ‘wild cards’, and this afternoon is clearly a wild card.
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-13 | 1010 | 1057 | 85 | 0.02 | 45.25 | chart |
| normal-11 | 1216 | 1247 | 91 | 0.01 | 15.50 | chart |
| normal-8 | 1016 | 1048 | 88 | 0.01 | 21.50 | chart |
| normal-5 | 1222 | 1258 | 100 | 0.01 | 15.25 | chart |
| taylorPlus-21 | 1006 | 1036 | 95 | 0.03 | 81.50 | chart |
| taylorPlus-13 | 0951 | 1044 | 92 | 0.03 | 91.00 | chart |
| taylorPlus-11 | 0951 | 1044 | 91 | 0.03 | 84.75 | chart |
| taylorPlus-8 | 1008 | 1103 | 100 | 0.02 | 64.50 | chart |
| taylorPlus-5 | 0932 | 1031 | 100 | 0.01 | 39.25 | chart |
| taylor3-21 | 1306 | 1405 | 90 | 0.03 | 75.00 | chart |
| taylor3-13 | 1324 | 1423 | 100 | 0.01 | 39.00 | chart |
| taylor3-11 | 1504 | 1555 | 100 | 0.02 | 64.50 | chart |
| taylor3-8 | 1505 | 1539 | 100 | 0.02 | 55.75 | chart |
| taylor3-5 | 1505 | 1541 | 100 | 0.01 | 35.50 | chart |
| ES_F | SHORT | |||||
|---|---|---|---|---|---|---|
| Type | Entry | Exit | Trade % | Profit % | Points | HeatMap |
| normal-21 | 1403 | 1501 | -81 | -0.02 | -57.25 | chart |
| normal-13 | 1134 | 1233 | -92 | -0.02 | -52.25 | chart |
| normal-11 | 1134 | 1221 | -91 | -0.01 | -30.25 | chart |
| normal-8 | 1151 | 1222 | -100 | -0.01 | -20.25 | chart |
| normal-5 | 1055 | 1125 | -100 | -0.01 | -15.50 | chart |
| taylorPlus-13 | 1400 | 1453 | -92 | -0.01 | -42.50 | chart |
| taylorPlus-11 | 1400 | 1453 | -100 | -0.01 | -43.75 | chart |
| taylorPlus-8 | 1340 | 1438 | -100 | -0.01 | -38.50 | chart |
| taylorPlus-5 | 1334 | 1419 | -100 | -0.01 | -21.25 | chart |
| taylor3-21 | 1056 | 1154 | -81 | -0.03 | -92.50 | chart |
| taylor3-13 | 1056 | 1154 | -92 | -0.03 | -75.50 | chart |
| taylor3-11 | 1056 | 1154 | -91 | -0.02 | -72.50 | chart |
| taylor3-8 | 1131 | 1230 | -100 | -0.02 | -45.50 | chart |
| taylor3-5 | 1109 | 1208 | -100 | -0.02 | -42.75 | chart |
Get all of today’s HotSpots here
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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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