Index Futures Net Changes and Settlements:
| Contract | Settlement | Net Change | +/-% |
| S&P 500 (ESU19:CME) | 2933.50 | +7.25 | +0.24% |
| DowJones (YMU19:CBT) | 26,536 | +34 | +0.12% |
| Nasdaq 100 (NQU19:CME) | 7702.00 | +28.50 | +0.37% |
| Russell 2000 (RTYU19:CME) | 1559.70 | +4.80 | +0.30% |
Foreign Markets, Fair Value and Volume:
- In Asia 9 out of 11 markets closed higher: Shanghai Comp +2.38%, Hang Seng +1.23%, Nikkei +0.60%
- In Europe 11 out of 13 markets are trading higher: CAC +0.70%, DAX +0.85%, FTSE +0.69%
- Fair Value: S&P +4.73, NASDAQ +28.95, Dow +11.46
- Total Volume: 1.66 million ESU & 2.6k SPU traded in the pit
*As of 7:00 a.m. CST
Today’s Economic Calendar:
Today’s economic calendar includes the 52-Week Bill Settlement, Jobless Claims 8:30 AM ET, Philadelphia Fed Business Outlook Survey 8:30 AM ET, Current Account 8:30 AM ET, Leading Indicators 10:00 AM ET, EIA Natural Gas Report 10:30 AM ET, Fed Balance Sheet & Money Supply 4:30 PM ET.
S&P 500 Futures:Fed Day; ‘Back and Fill, Then Rally’
Chart courtesy of Scott Redler @RedDogT3 – $spx futures +25 as we attempt to get and stay above 2954 key All time high pivot. There were many spots to adjust with a plan.
During Tuesday nights Globex session, the S&P 500 futures (ESU19:CME) were held to just a 8.75 handle range, and the lack of volatility rolled over into Wednesday’s regular trading hours. After the 8:30 CT bell, the ES printed the RTH session high at 2927.50, then proceeded to trade sideways in an 8 handle range until the fed announcement at 1:00.
The news headline algo’s were ready and waiting, and the initial knee jerk reaction to the FED’s decision to curb interest rate hikes until 2020 took the ESU down through the Globex low at 2921.75, to a new low at 2915.25. The futures recovered immediately, and popped back up through the opening range, to a new high at 2935.25, in a matter of seconds.
After a little back-and-fill down to the 2923.25, stock markets continued to trade higher for the rest of the session, and when the MiM reveal came out showing $364 million to buy, the futures were trading at 2932.75. The ES would then go on to print 2930.75 on the 3:00 cash close, and 2933.25 on the 3:15 futures close, up 7 handles on the day.
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 | 1027 | 1106 | 85 | 0.01 | 32.75 | chart |
| normal-11 | 1217 | 1247 | 91 | 0.00 | 9.50 | chart |
| normal-8 | 1217 | 1247 | 88 | 0.00 | 3.25 | chart |
| normal-5 | 1335 | 1405 | 100 | 0.01 | 17.00 | chart |
| taylorPlus-21 | 1203 | 1254 | 81 | 0.02 | 49.75 | chart |
| taylorPlus-13 | 1208 | 1244 | 92 | 0.01 | 40.50 | chart |
| taylorPlus-11 | 1211 | 1246 | 100 | 0.01 | 38.50 | chart |
| taylorPlus-8 | 1211 | 1246 | 100 | 0.01 | 19.75 | chart |
| taylorPlus-5 | 1220 | 1317 | 100 | 0.01 | 16.25 | chart |
| taylor3-21 | 1232 | 1304 | 81 | 0.01 | 37.75 | chart |
| taylor3-13 | 1014 | 1047 | 85 | 0.02 | 48.75 | chart |
| taylor3-11 | 1010 | 1047 | 91 | 0.02 | 45.50 | chart |
| taylor3-8 | 0930 | 1004 | 88 | 0.02 | 46.25 | chart |
| taylor3-5 | 1205 | 1304 | 100 | 0.01 | 29.50 | chart |
| ES_F | SHORT | |||||
|---|---|---|---|---|---|---|
| Type | Entry | Exit | Trade % | Profit % | Points | HeatMap |
| normal-21 | 1134 | 1219 | -86 | -0.02 | -56.00 | chart |
| normal-13 | 1134 | 1221 | -92 | -0.02 | -47.00 | chart |
| normal-11 | 1131 | 1222 | -91 | -0.01 | -29.00 | chart |
| normal-8 | 1133 | 1230 | -100 | -0.01 | -24.25 | chart |
| normal-5 | 1132 | 1230 | -100 | -0.00 | -12.50 | chart |
| taylorPlus-11 | 1422 | 1501 | -82 | -0.01 | -17.25 | chart |
| taylorPlus-8 | 1131 | 1220 | -87 | -0.01 | -19.00 | chart |
| taylorPlus-5 | 1131 | 1216 | -100 | -0.01 | -22.50 | chart |
| taylor3-13 | 1453 | 1548 | -85 | -0.01 | -23.25 | chart |
| taylor3-11 | 1447 | 1546 | -82 | -0.01 | -31.75 | chart |
| taylor3-8 | 1303 | 1339 | -100 | -0.01 | -17.25 | chart |
| taylor3-5 | 1402 | 1437 | -100 | -0.01 | -17.75 | 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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