#ES 2750 In Sight

Index Futures Net Changes and Settlements:

Foreign Markets, Fair Value and Volume:

• In Asia 10 out of 11 markets closed higher: Shanghai Comp +2.70%, Hang Seng +4.21%, Nikkei +2.56%
• In Europe 12 out of 13 markets are trading higher: CAC +1.48%, DAX +1.77%, FTSE +0.48%
• Fair Value: S&P -0.35, NASDAQ +7.26, Dow -38.56
• Total Volume: 1.81mil ESZ & 598 SPZ traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes Motor Vehicle Sales, Employment Situation 8:30 AM ET, International Trade 8:30 AM ET, Factory Orders 10:00 AM ET, and the Baker-Hughes Rig Count 1:00 PM ET.

S&P 500 Futures: More Buy Stops And Buy Programs

Chart courtesy of @Chicagostock – $ES_F Nicely timed @Potus Saved by the Donald. Intraday cash low 270775, holding >Mon high. Next major stops > last Tues 275475. 2nd day in a row the 3D pivot range is not tested to allow buyers chance to defend support, but rather continue forced chase >2707.

After trading higher in the overnight session, the S&P 500 futures opened yesterday’s 8:30 CT regular trading hours at 2720.50. The first move was a trade down to an early low at 2707.75, followed by a rally up to a 2734.75 high just after 10:30, and then a break down to a 2725.50 late morning low.

The afternoon was choppy, trading in a 10 handle range from 11:30 CT into the closing minutes, before breaking out and making a high of day at 2741.25. The benchmark futures went on to print 2738.50 on the 3:00 close, and settled the day at 2738.00, up +27.00 handles, or +1.00%.

In the end the overall tone of the ES was firm. There were several 8 to 10 handle drops that gave the look that the ES was trading soft, chopping up and down, getting the retail traders short into the selloffs. In terms of the days overall trade, the ES volume was lowest in the last two weeks.

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.

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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.

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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.}