Monday’s Best S&P Turning Points Results: Narrow range day yesterday, neither trade idea triggered.
Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets):
Short 3966.50 stop 3971.25. Buy 3886.00 stop 3880.25
The World Sentiment Index: (+100/-100) SOARS from zero to +86 with all major world markets bullish, especially China/Hong Kong. Historically the close is higher than the open 63% of the time.
Catalysts: PMI MFG Final @ 9:45. ISM MFG Index, Construction Spending & JOLTS @ 10:00. Dollar eases. Yield curve near recession warning. Waiting on FOMC Wednesday.
Quick Tip: The Big Problem
Are you working on solving it? Most traders aren’t. Why? Because it’s hard. It’s a challenge. It’s the single most impactful change you can make to improve your trading performance. Most people would do anything else rather than solve the one problem that needs to get handled pronto.
If you know what your problem is, your entire focus should be on fixing it. Be single-minded. Do the research. Get it done.
If you don’t know what your problem is, you need to have a conversation with someone who can help you uncover it. There is always something holding us back from doing better and we don’t always see it on our own. Having a direct conversation with a skilled coach is your best bet.
Several hundred traders read this email every day. I would love to help each one find their hidden problem and improve their trading. Unfortunately, time prevents that from happening. Except for 5 of you…
If you want a one-on-one coaching call to uncover the single most important change you need to make to rocket your trading results, send me an email now (mike@thedailymarketforecast.
P.S. Multiple strategies, software tools, teammates, and coaching. Learn why you should join our team here.