S&P Down 3 Of The Last 4 Sessions

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


Index Futures Net Changes and Settlements:

Contract

Settlement

Net Change

+/-%

S&P 500 (ESM19:CME)

2887.25

-3.50

-0.12%

DowJones (YMM19:CBT)

26,014

+41

+0.15%

Nasdaq 100 (NQM19:CME)

7647.50

-26.50

-0.34%

Russell 2000 (RTYM19:CME)

1581.30

-8.90

-0.55%

Foreign Markets, Fair Value and Volume:

  • In Asia 9 out of 11 markets closed lower: Shanghai Comp -1.48%, Hang Seng -2.39%, Nikkei -0.93%
  • In Europe 13 out of 13 markets closed lower: CAC -1.15%, DAX -0.79%, FTSE -0.26%
  • Fair Value: S&P +0.47, NASDAQ +9.04, Dow -16.78
  • Total Volume: 2.03 million ESM & 122 SPM traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes International Trade 8:30 AM ET, Jobless Claims 8:30 AM ET, PPI-FD 8:30 AM ET, Jerome Powell Speaks 8:30 AM ET, Wholesale Trade 10:00 AM ET, EIA Natural Gas Report 10:30 AM ET, Raphael Bostic Speaks 10:45 AM ET, Charles Evans Speaks 1:15 PM ET, Fed Balance Sheet & Money Supply 4:30 PM ET.


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S&P 500 Futures: Headline Algo’s Take Over

Chart courtesy of Scott Redler @RedDogT3$spx futures -18 as we head into the trade Deadline tonight. Use 2862 as the key for today.

During Tuesday nights Globex session, the S&P 500 futures (ESM19:CME) printed a high of 2899.50, a low of 2868.75, and opened Wednesday’s regular trading hours at 2879.75.

After the 8:30 CT bell, the ES made a quick dip down to 2873.00, which would hold as the RTH low for the rest of the day, and started a slow steady grind higher. The only real action came after a few headlines hit the tape regarding China trade tariffs. Other than that, it was pretty textbook for the session after a trend day. Like we say here at MrTopStep, the S&P tends to go sideways to higher after a big down day.

By 10:00, the futures had traded up to 2898.75, just short of the Globex high, and then drifted sideways for the rest of the day. When the 2:45 cash imbalance reveal came out showing $435M to sell, the ES was trading at 2890.75. It would then go on to print 2880.25 on the 3:00 cash close, and 2886.50 on the 3:15 futures close.

In the end, the overall tone of the ES was firm. In terms of the days overall trade, total volume was high, with just over 2 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

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ES_FLONG
TypeEntryExitTrade %Profit %PointsHeatMap
normal-2112021237860.0136.25chart
normal-1313421423920.0128.00chart
normal-11132014081000.0123.75chart
normal-8132014081000.0118.75chart
normal-5120412551000.0133.00chart
taylorPlus-1310441139850.0116.75chart
taylorPlus-1110451139910.0129.75chart
taylorPlus-8104511391000.0126.00chart
taylorPlus-5104511391000.0119.75chart
taylor3-2112491320810.0135.25chart
taylor3-1313541431850.0125.25chart
taylor3-1112481347910.0128.00chart
taylor3-810441131880.0126.00chart
taylor3-5102011161000.0123.25chart
ES_FSHORT
TypeEntryExitTrade %Profit %PointsHeatMap
normal-1115071543-82-0.00-13.25chart
normal-815071543-100-0.00-13.50chart
normal-511081204-100-0.02-44.75chart
taylorPlus-1309391017-85-0.01-30.00chart
taylorPlus-1109391017-82-0.01-18.25chart
taylorPlus-810131045-87-0.01-20.00chart
taylorPlus-514511544-100-0.00-6.75chart
taylor3-812171248-87-0.00-12.25chart
taylor3-515081548-100-0.01-16.00chart

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Danny Riley (3007 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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