Results of Friday’s Best S&P Turning Points: Shorting 4010.00 offered a quick 5.50-point scalp but the breakout that followed ran for 11.25 points.
Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets):
Buy 3998.75 stop 3993.00. Short 4074.50 stop 4079.50.
The World Sentiment Index: (+100/-100) DIPS from +29 to -14 in a world of mixed sentiment. Historically the close was higher than the open 74% of the time.
Catalysts: Empire State MFG Index @ 8:30. Wall Street gets bullish on China.
Quick Tip: ChatGPT is…
Amazing? Inconsistent? Fun? Destructive? Helpful? Scary?
All the above.
If you haven’t already, check out chat.openai.com to play for free with a $10B technology (if MSFT closes the deal) that will answer any question you can imagine with fluid, sensible grammar… instantly.
The answers are not guaranteed accurate. They’ll probably fix that eventually.
Unlike Google, which points you to affiliate revenue generating blogs and web pages that are nothing more than veiled sales pitches, ChatGPT is pure Artificial Intelligence, temporarily free, expecting to revolutionize content generation, education, and a host of other things.
Why does this matter for you as a reader of my trading blog? Because while I’m not critical of AI-generated content, I don’t send it to you. I provide trading lessons every day based on 24 years of trading and teaching experience.
If a picture is worth a thousand words then a live real-money demo of our trading strategies should be better. Join me Thursday January 19 @ 12:30 PM ET for a couple hours of action trading the S&P futures. Lessons included. Click here to register.
P.S. Feel free to share this blog with all your trading buddies.