Index Futures Net Changes and Settlements:
|
Contract |
Settlement |
Net Change |
+/-% |
|
S&P 500 (ESM19:CME) |
2827.00 |
-9.50 |
-0.33% |
|
DowJones (YMM19:CBT) |
25,729 |
-177 |
-0.68% |
|
Nasdaq 100 (NQM19:CME) |
7409.50 |
+33.00 |
+0.44% |
|
Russell 2000 (RTYM19:CME) |
1546.80 |
-11.90 |
-0.76% |
Foreign Markets, Fair Value and Volume:
- In Asia 9 out of 11 markets closed higher: Shanghai Comp +0.35%, Hang Seng -0.85%, Nikkei +0.20%
- In Europe 9 out of 13 markets are trading lower: CAC -0.20%, DAX -0.49%, FTSE +0.40%
- Fair Value: S&P +4.99, NASDAQ +29.81, Dow +24.35
- Total Volume: 1.6mil ESM & 391 SPM traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Jobless Claims 8:30 AM ET, Philadelphia Fed Business Outlook Survey 8:30 AM ET, Leading Indicators 10:00 AM ET, Quarterly Services Survey 10:00 AM ET, EIA Natural Gas Report 10:30 AM ET, Fed Balance Sheet and Money Supply 4:30 PM ET.
S&P 500 Futures: Fed Kicks The Can Into 2020
During Tuesday nights Globex session, the S&P 500 futures (ESM19:CME) printed a high of 2842.50, a low of 2828.00, and opened Wednesday’s regular trading hours at 2836.50. The ES immediately began to sell off after the 8:30 CT bell, and printed a new low at 2827.50 in the first 10 minutes of trading. After a little back and fill up to 2832.50, the futures took another run at the lows, and eventually broke through, trading down to 2825.50.
Once the early low was in, the ES did a little more back and fill, this time up to 2833. From there, a slow grind lower started, and by 11:00 CT, the futures had traded down to a new low at 2821.00. After a pop up to 2825.50, a headline hit the tape about Trump comments on the China trade deal, and the ES took a dive down to 2817.25 in a matter of seconds. After the headline headfake, the futures started slowly grinding higher, as most traders took a step back to wait for the FOMC announcement.
At 1:00 CT the fed announced they would not raise interest rates at all in 2019, and only once in 2020. The market took that as great news, and the ES took off, first up to 2843.00, then, after a pullback down to 2835.75, up to 2849.25.
Going into the end of the day, the ES backed off the highs and started hunting for stops, and by 2:30 had traded back down to 2829.00. On the 2:45 cash imbalance reveal the futures printed 2832.00, then 2829.50 on the 3:00 cash close, and closed out at 2826.75 on the 3:15 futures close, down -9.75 handles, or -0.34%.
In the end, the overall tone of the ES was strong, and it was all supplied by the PPT. In terms of the days overall trade, total volume was lower high, over 100,000 ES contracts traded with in 8 minutes of the fed headlines. Total volume on the day was 1.67 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_F | LONG | |||||
|---|---|---|---|---|---|---|
| Type | Entry | Exit | Trade % | Profit % | Points | HeatMap |
| normal-21 | 1025 | 1120 | 81 | 0.02 | 48.25 | chart |
| normal-13 | 1018 | 1117 | 85 | 0.01 | 37.50 | chart |
| normal-11 | 1018 | 1117 | 91 | 0.01 | 41.50 | chart |
| normal-8 | 0943 | 1033 | 100 | 0.01 | 23.75 | chart |
| normal-5 | 1417 | 1447 | 100 | 0.01 | 19.00 | chart |
| taylorPlus-21 | 1313 | 1345 | 81 | 0.01 | 30.50 | chart |
| taylorPlus-13 | 0939 | 1031 | 85 | 0.01 | 31.50 | chart |
| taylorPlus-11 | 1329 | 1405 | 91 | 0.01 | 19.25 | chart |
| taylorPlus-8 | 1134 | 1208 | 88 | 0.01 | 18.00 | chart |
| taylorPlus-5 | 1134 | 1212 | 100 | 0.00 | 12.25 | chart |
| taylor3-21 | 0959 | 1048 | 90 | 0.04 | 116.50 | chart |
| taylor3-13 | 1114 | 1144 | 85 | 0.01 | 29.00 | chart |
| taylor3-11 | 0959 | 1050 | 91 | 0.01 | 28.25 | chart |
| taylor3-8 | 0953 | 1050 | 88 | 0.01 | 28.75 | chart |
| taylor3-5 | 1017 | 1103 | 100 | 0.01 | 16.25 | chart |
| ES_F | SHORT | |||||
|---|---|---|---|---|---|---|
| Type | Entry | Exit | Trade % | Profit % | Points | HeatMap |
| normal-21 | 1431 | 1524 | -81 | -0.02 | -41.75 | chart |
| normal-13 | 1444 | 1523 | -92 | -0.01 | -40.25 | chart |
| normal-11 | 1439 | 1530 | -91 | -0.01 | -38.75 | chart |
| normal-8 | 1439 | 1530 | -87 | -0.01 | -30.50 | chart |
| normal-5 | 1444 | 1526 | -100 | -0.01 | -22.50 | chart |
| taylorPlus-13 | 1410 | 1506 | -85 | -0.01 | -26.75 | chart |
| taylorPlus-11 | 1431 | 1528 | -82 | -0.01 | -17.50 | chart |
| taylorPlus-8 | 1433 | 1524 | -100 | -0.01 | -16.75 | chart |
| taylorPlus-5 | 1419 | 1515 | -100 | -0.01 | -17.25 | chart |
| taylor3-13 | 1147 | 1220 | -85 | -0.00 | -12.00 | chart |
| taylor3-11 | 1147 | 1220 | -91 | -0.01 | -14.25 | chart |
| taylor3-8 | 1455 | 1530 | -87 | -0.01 | -20.25 | chart |
| taylor3-5 | 1147 | 1220 | -100 | -0.00 | -13.00 | chart |
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