Wednesday’s Best S&P Turning Points Results: Neither level triggered on a relatively narrow range-bound day.
Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets):
Short 4018.50 stop 4024.25. Buy 3916.25 stop 3911.75
The World Sentiment Index: (+100/-100) DROPS from -21 to -50 with most major world markets bearish. Historically price closes LOWER than the open 56% of the time.
Globex View: Range-bound until the Euro Open and firmly down now, trading well below yesterday's low.
Catalysts: Housing Starts, Jobless Claims & Philly Fed MFG Index @ 8:30. Scattered Fed-Speak. More crypto pain. Risk off coming into the open.
Quick Tip: Feed Your Brain
One huge reason we’re living longer and healthier than prior generations is diet and exercise. We know way better what to feed our bodies and those that practice some discipline with diet and exercise reap the longevity benefit.
Your mind needs food, too. Not just the kind you eat, the kind you read, watch, and listen to.
You’re a trader so I’m sure you have plenty of trading resources for reference. Now broaden your mindset and challenge your beliefs with some books that while not about trading, I’ve personally found great advice and ideas about trading within them.
Willpower by Baumeister
You are the Placebo by Dispenza
The Psychology of Money by Housel
Stolen Focus by Hari
Do One Thing Different by O’Hanlon
Before you start, invest 11 minutes watching this video: “How to Learn Anything Faster and Better.” It will make all the difference in your ability and discipline to study and retain knowledge.
P.S. If your strategies have proven edge and your results are spotty then you need to change your behavior. Click to learn how.