Watch The Closes

Commentary, News, Technical Analysis

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Index Futures Net Changes and Settlements:

Contract

Settlement

Net Change

+/-%

S&P 500 (ESH19:CME)

2594.00

+11.50

+0.44%

DowJones (YMH19:CBT)

23,953

+123

+0.51%

Nasdaq 100 (NQH19:CME)

6625.25

+20.50

+0.31%

Russell 2000 (RTYH19:CME)

1446.60

+9.10

+0.63%

 

Foreign Markets, Fair Value and Volume:

  • In Asia 10 out of 11 markets closed higher: Shanghai Comp +0.74%, Hang Seng +0.55%, Nikkei +0.97%
  • In Europe 8 out of 13 markets are trading lower: CAC -0.51%, DAX -0.39%, FTSE -0.17%
  • Fair Value: S&P +0.29, NASDAQ +12.04, Dow -27.31
  • Total Volume: 1.51mil ESH & 213 SPH traded in the pit

Today’s Economic Calendar:

Today’s economic calendar includes CPI 8:30 AM ET, Baker-Hughes Rig Count 1:00 PM ET, and the Treasury Budget 2:00 PM ET.


S&P 500 Futures:

Chart courtesy of @Chicagostock $ES_F Buyers remain in control as they defended today’s 3D pivot support early in session and on the retest in the last hour.

After giving back some of this week’s gains in the overnight session, the S&P 500 futures opened yesterday’s regular trading hours at 2569.75 and sold off down down to an early low at 2562.00 within the first 30 minutes. From there, buyers entered into the market, pushing the ES back up to positive territory, printing 2587.25, and eventually rallying to 2599.50.



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


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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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Danny Riley (2606 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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