Is The Dollar Making A High?

Charts, Commentary, News, Technical Analysis, The Opening Print, Video

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Index Futures Net Changes and Settlements:


Contract

Settlement

Net Change

+/-%

S&P 500 (ESH19:CME)
2582.50+10.00+0.38%

DowJones (YMH19:CBT)

23,830

+87


+0.36%

Nasdaq 100 (NQH19:CME)

6604.75

+47.50

+0.72%

Russell 2000 (RTYH19:CME)

1437.50

+11.60

+0.81%

Foreign Markets, Fair Value and Volume:

  • In Asia 6 out of 11 markets closed higher: Shanghai Comp -0.36%, Hang Seng +0.22%, Nikkei -1.29%
  • In Europe 11 out of 13 markets are trading lower: CAC -0.75%, DAX -0.34%, FTSE -0.16%
  • Fair Value: S&P +0.51, NASDAQ +12.64, Dow -25.34
  • Total Volume: 1.59mil ESH & 661 SPH traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes Jobless Claims 8:30 AM ET, Tom Barkin Speaks 8:35 AM ET, Wholesale Trade 10:00 AM ET, EIA Natural Gas Report 10:30 AM ET, James Bullard Speaks 12:40 PM ET, Jerome Powell Speaks 12:45 PM ET, Charles Evans Speaks 1:00 PM ET, 30-Yr Bond Auction 1:00 PM ET, Neel Kashkari Speaks 1:20 PM ET, Fed Balance Sheet and Money Supply 4:30 PM ET, and Richard Clarida Speaks 7:00 PM ET.


S&P 500 Futures: #ES Targets 2600.00

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Chart courtesy of @Chicagostock $ES_F Moment of truth Thursday. After forcing buyers to chase all week w/o testing 3D pivots until the FOMC 2592 high was taken out, Thursday’s 3D pivot will be looking to see if there are any buyers left to defend range and sustain the uptrend. Close below 2567= negative.

After grinding higher in the overnight session, the S&P 500 futures opened yesterday’s cash session at 2583.25, and in the first 30 minutes traveled up to the morning high of 2590.25. The next move was a quick selloff back below the open, down to what would be the low of day, printing 2569.00 just after 9:45. From there, the equity futures rallied into the end of morning, making a late morning high of 2595.50.

After a 9.25 handle retracement during the noon hour, the ES again shot up to make the early afternoon high of 2596.75, however, news coming out of Trump’s meeting with Republican officials caused some quick selling down to 2580.25. The futures quickly recovered and rallied back up to 2593.00 heading into the final hour of the day.

The 2:00 hour saw a high print at 2593.25 before turning lower late in the session, pulling back down to 2580.25, then 2586.25 on the 3:00 cash close, and settling the day at 2582.25, up +9.75 handles, or +0.38%.


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NOFT Playbook


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.

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.

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Danny Riley (3001 Posts)

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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