Trump Upsets Beijing’s Global Ambitions

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


Index Futures Net Changes and Settlements:

Contract

Settlement

Net Change

+/-%

S&P 500 (ESM19:CME)

2887.00

+14.25

+0.49%

DowJones (YMM19:CBT)

25,964

+148

+0.57%

Nasdaq 100 (NQM19:CME)

7610.25

+15.00

+0.19%

Russell 2000 (RTYM19:CME)

1578.60

+6.50

+0.41%

Foreign Markets, Fair Value and Volume:

  • In Asia 9 out of 11 markets closed lower: Shanghai Comp -1.21%, Hang Seng +0.84%, Nikkei -0.72%
  • In Europe 12 out of 13 markets closed higher: CAC -0.51%, DAX -0.76%, FTSE -0.08%
  • Fair Value: S&P +1.19, NASDAQ +9.87, Dow -9.06
  • Total Volume: 2.84 million ESM & 318 SPM traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes Eric Rosengren & Richard Clarida Speak at 9:10 AM ET.


S&P 500 Futures: Just A Tweet Away

Chart courtesy of Scott Redler @RedDogT3$spx futures -34 as the Trade/Headline Volatility Persists. $spx 2825 is important and $aapl around $192 area for tech $qqq.

During Thursday nights Globex session, the S&P 500 futures (ESM19:CME) printed a high of 2889.00, a low of 2849.00, and opened Friday’s regular trading hours at 2860.25.

The selling started just before 9:00 CT, and didn’t stop until the ES had bottomed out at 2826.00. With China headlines hitting the tape all morning, its safe to say the weakness was all headline algo driven.

After trading sideways from 9:45 until 10:45, some positive headlines started coming out, and the futures reacted in kind. By 12:15 the ES had traded back through the 8:30 opening range, and was on its way to new highs.

By 2:30 the futures had topped out at 2893.00, a 67 handle rally from the low, and began to pull back after a tweet from Trump saying the China trade talks had stalled.

When the 2:45 cash imbalance reveal came out showing $325M to buy, the ES was trading at 2877.50. It then rallied to print 2884.00 on the 3:00 cash close, and 2886.75 on the 3:15 futures close, up 14 handles on the day.

In the end, the overall tone of the ES was extremely weak in the first part of the day, and strong in towards the end of the day. In terms of the days overall trade, total volume was high, with 2.8 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

If you have questions about HotSpots you can contact us at info@mrtopstep.com.

ES_FLONG
TypeEntryExitTrade %Profit %PointsHeatMap
normal-2112021254860.0376.25chart
normal-13132014081000.0135.50chart
normal-11132014081000.0131.00chart
normal-8131813571000.0125.75chart
normal-5120412541000.0261.50chart
taylorPlus-2110421141900.0374.25chart
taylorPlus-1310421141920.0139.50chart
taylorPlus-1114391520910.0138.25chart
taylorPlus-8104211151000.0118.75chart
taylorPlus-5110311411000.0129.00chart
taylor3-2110531149860.0138.25chart
taylor3-1312271325920.0120.75chart
taylor3-1112271324910.0114.25chart
taylor3-8122613241000.0118.25chart
taylor3-5105911581000.0127.75chart
ES_FSHORT
TypeEntryExitTrade %Profit %PointsHeatMap
normal-1115071543-82-0.00-8.50chart
normal-810001039-87-0.02-44.50chart
normal-510001039-100-0.02-45.75chart
taylorPlus-2109461023-86-0.02-64.25chart
taylorPlus-1310031045-100-0.02-66.50chart
taylorPlus-1110031045-100-0.02-64.75chart
taylorPlus-809471045-100-0.02-67.75chart
taylorPlus-509481042-100-0.02-52.75chart
taylor3-1311581228-85-0.01-17.50chart
taylor3-1110051037-82-0.01-15.00chart
taylor3-810051037-87-0.00-13.25chart
taylor3-510061037-100-0.01-19.25chart

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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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