Index Futures Net Changes and Settlements:

Contract Settlement Net Change +/-%
S&P 500 (ESZ18:CME) 2724.25 -13.75 -0.99%
DowJones (YMZ18:CBT) 25,241 -84 -0.33%
Nasdaq 100 (NQZ18:CME) 6980.25 -97.50 -1.37%
Russell 2000 (RTYZ17:CME) 1549.60 +7.50 +0.48%

Foreign Markets, Fair Value and Volume:

  • In Asia 10 out of 11 markets closed lower: Shanghai Comp -0.41%, Hang Seng -2.08%, Nikkei -1.55%
  • In Europe 10 out of 13 markets are trading higher: CAC +0.22%, DAX +0.12%, FTSE +0.44%
  • Fair Value: S&P -0.53, NASDAQ +5.53, Dow -40.78
  • Total Volume: 2.36mil ESZ & 1,104 SPZ traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes John Williams Speaks 8:30 AM ET, PMI Services Index 9:45 AM ET, ISM Non-Mfg Index 10:00 AM ET, TD Ameritrade IMX 12:30 PM ET, and Robert Kaplan Speaks 7:00 PM ET.


S&P 500 Futures: Positive Jobs Number And Trump China Tariff Deal Talk Don’t Hold Water

Chart courtesy of @Chicagostock – $ES_F Monday: Bull need open >2728 to get opportunity to test/recover Friday’s bull trap. Open < Fri 2699 low leaves longs from last week’s b/o on hook to be used as fuel to expand lower.

After trading higher in the overnight session, the S&P 500 futures opened Friday’s 8:30 cash session at 2751.25. The first move was down 5 handles lower, followed by a rally up to what would be the high of day at 2756.50 just 15 minutes into the session. From there, sellers had control as the ES broke down to a mid morning low at 2721.75, and then after a rally up to 2734.25, traded down further through the late morning, making the low of day just after the noon hour at 2699.50.

After that, the ES chopped sideways to higher 2717.50, and then after a higher low at 2704 the ES started back up, boosted by Trump tweets that helped push the index up to 2728.00, which would be the afternoon high. The last hour saw a low of 2711.75, and then a pop up to 2724.75 going into the closing print which, was came in at 2721.75, before settling the day at 2724.00, down -14.00 handles, or -0.55%.


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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