Index Futures Net Changes and Settlements:

Contract Settlement Net Change +/-%
S&P 500 (ESZ18:CME) 2643.00 +7.00 +0.26%
DowJones (YMZ18:CBT) 24,490 +58 +0.23%
Nasdaq 100 (NQZ18:CME) 6699.25 +75.75 +1.14%
Russell 2000 (RTYZ17:CME) 1447.10 -3.00 -0.20%

Foreign Markets, Fair Value and Volume:

  • In Asia 7 out of 11 markets closed lower: Shanghai Comp +0.37%, Hang Seng +0.07%, Nikkei -0.34%
  • In Europe 13 out of 13 markets are trading higher: CAC +2.08%, DAX +1.96%, FTSE +1.63%
  • Fair Value: S&P +0.70, NASDAQ +1.38, Dow +16.15
  • Total Volume: 2.56mil ESZ & 842 SPZ traded in the pit

As of 8:00 AM EST

Today’s Economic Calendar:

Today’s economic calendar includes the 8-Week Bill Settlement, NFIB Small Business Optimism Index 6:00 AM ET, PPI-FD 8:30 AM ET, Redbook 8:55 AM ET, and a 3-Yr Note Auction 1:00 PM ET.



S&P 500 Futures: Early Drop And Afternoon Pop

Chart courtesy of @Chicagostock $ES_F Just like Oct 29 where the squeeze level was 2707, current squeeze level is 2709 Friday’s high. Need to overcome that high for another shot at retesting month high with 2760-2770 as major resistance based off high.

After trading lower in the overnight session and then rallying into the open, the S&P 500 futures opened yesterday’s regular session at 2630.75, then ran up to an early high at 2639.25 in the first 15 minutes. Before long, attention turned to the downside, as a selling frenzy pulled the ES down to 2609.50, a 30 handle pullback in 15 minutes. From there, the futures rallied 20 handles, then turned lower again, running through some sell stops all the way down to 2583.00 just after 10:00, making a low for the day, and breaking the May low for the S&P 500.

The late morning saw a rally up to 2609.75 following the Euro close, and then after a 16.75 handle pullback, strong buy programs came in pushing the benchmark futures up to 2624.75 heading into the noon hour. The afternoon saw a new high of day, as the ES gradually made a series of higher highs and higher lows, printing 2648.50 at the high, before trading 2637.50 on the 3:00 close, and going on to settle the day at 2643.25, up +7.25 handles, or +0.28%.

In the end, the tone was about the open and the European close, as the ES looked terribly weak, making a new multi month low before reversing following the Euro close, and then looking impressively firm later in 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.

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.


Get all of todays 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.

Tags:

No responses yet

Leave a Reply