Index Futures Net Changes and Settlements:
| Contract | Settlement | Net Change | +/-% |
| S&P 500 (ESM19:CME) | 2790.50 | +10.50 | +0.37% |
| DowJones (YMM19:CBT) | 25,190 | +81 | +0.32% |
| Nasdaq 100 (NQM19:CME) | 7255.25 | +39.25 | +0.54% |
| Russell 2000 (RTYM19:CME) | 1486.40 | -2.50 | -0.16% |
Foreign Markets, Fair Value and Volume:
- In Asia 6 out of 11 markets closed lower: Shanghai Comp -0.24%, Hang Seng -0.79%, Nikkei -1.63%
- In Europe 13 out of 13 markets are trading lower: CAC -1.36%, DAX -1.72%, FTSE -0.94%
- Fair Value: S&P +0.58, NASDAQ +5.62, Dow +7.79
- Total Volume: 1.27 million ESM & 295 SPM traded in the pit
*As of 7:00 a.m. CST
Today’s Economic Calendar:
Today’s economic calendar includes Personal Income and Outlays 8:30 AM ET, Raphael Bostic Speaks 9:15 AM ET, Chicago PMI 9:45 AM ET, Consumer Sentiment 10:00 AM ET, John Williams Speaks 12:00 PM ET, the Baker-Hughes Rig Count 1:00 PM ET, and Farm Prices 3:00 PM ET.
S&P 500 Futures: ES And NQ Rally While RL Goes Lower Until Trump’s Tweet
Chart courtesy of Scott Redler @RedDogT3 – $spx futures -28 as the Trade war takes on a new Dimension. Simplify it today. Use 2766 as the Friday Key.
During Wednesday nights Globex session, the S&P 500 futures (ESM19:CME) printed a high of 2793.00, a low of 2776.75, and opened Thursday’s regular trading hours at 2789.75.
The overnight strength followed through into the day session, and at 9:30 CT the ES had traded up to a new high at 2799.00. The 2800 level was a key target for bulls to recover, and sellers were there waiting.
The grind lower that ensued after the rejection at 2800 took the ES down to 2782.25, a nearly 17 handle break, before buyers once again stepped in to take another shot. On this attempt, the bulls ran out of gas at 2793.75, and the futures once again turned to head lower.
Going into the final hour, the ES printed a new low by 1 tick at 2776.50, and immediately popped back up to 2785.50. As the close came around, the futures had rallied back up to 2788.25 when the 2:45 cash imbalance reveal came out showing $300 million to buy. It then went on to print 2789.25 on the 3:00 cash close, and 2790.50 on the 3:15 futures close.
In the end, the overall tone of the ES was slightly firm. In terms of the days overall trade, total volume was low, with 1.2 million futures contracts traded.
While the Japanese Yen and crude oil were falling, the ES and NQ were rallying. After a big beatdown, the index futures markets rallied to finished the day with modest gains.
Everything seemed ok on Globex last night, that is until President Trump said on June 10th the U.S. would impose a 5% tariff on Mexican imports, in an effort to push the country to halt the continued flow of asylum seekers from the U.S. southern border.
After the headline hit the ES sold off 22 handles. If you haven’t figured it out, that’s how this game is played. The humans get run over, and headline news algos are the big winners.
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 | 1320 | 1352 | 81 | 0.01 | 44.25 | chart |
| normal-13 | 0953 | 1036 | 85 | 0.02 | 68.75 | chart |
| normal-11 | 0931 | 1029 | 82 | 0.03 | 78.00 | chart |
| normal-8 | 1155 | 1242 | 88 | 0.01 | 29.50 | chart |
| normal-5 | 1155 | 1242 | 100 | 0.01 | 27.25 | chart |
| taylorPlus-21 | 1042 | 1141 | 90 | 0.02 | 57.50 | chart |
| taylorPlus-13 | 1041 | 1115 | 92 | 0.01 | 22.25 | chart |
| taylorPlus-11 | 1041 | 1115 | 91 | 0.01 | 18.75 | chart |
| taylorPlus-8 | 1104 | 1200 | 88 | 0.01 | 25.50 | chart |
| taylorPlus-5 | 1154 | 1224 | 100 | 0.01 | 30.75 | chart |
| taylor3-21 | 1252 | 1345 | 81 | 0.01 | 40.75 | chart |
| taylor3-13 | 1040 | 1116 | 85 | 0.02 | 48.25 | chart |
| taylor3-11 | 1045 | 1116 | 91 | 0.01 | 41.25 | chart |
| taylor3-8 | 1039 | 1116 | 100 | 0.01 | 43.25 | chart |
| taylor3-5 | 1040 | 1116 | 100 | 0.01 | 32.50 | chart |
| ES_F | SHORT | |||||
|---|---|---|---|---|---|---|
| Type | Entry | Exit | Trade % | Profit % | Points | HeatMap |
| normal-21 | 1359 | 1457 | -81 | -0.01 | -27.25 | chart |
| normal-13 | 1428 | 1516 | -85 | -0.02 | -57.25 | chart |
| normal-11 | 1423 | 1520 | -91 | -0.02 | -45.50 | chart |
| normal-8 | 1048 | 1147 | -100 | -0.01 | -38.00 | chart |
| normal-5 | 1035 | 1134 | -100 | -0.02 | -45.00 | chart |
| taylorPlus-21 | 0949 | 1044 | -81 | -0.02 | -67.00 | chart |
| taylorPlus-13 | 1002 | 1055 | -92 | -0.02 | -48.00 | chart |
| taylorPlus-11 | 0959 | 1041 | -91 | -0.02 | -61.00 | chart |
| taylorPlus-8 | 1502 | 1541 | -100 | -0.02 | -55.75 | chart |
| taylorPlus-5 | 1453 | 1544 | -100 | -0.01 | -38.75 | chart |
| taylor3-11 | 1507 | 1550 | -82 | -0.01 | -30.75 | chart |
| taylor3-8 | 1451 | 1549 | -87 | -0.02 | -44.00 | chart |
| taylor3-5 | 1442 | 1541 | -100 | -0.02 | -44.75 | chart |
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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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