Results of Tuesday’s Best S&P Turning Points: Buying 4019.25 was cancelled during Powell’s testimony (stopped out).
Today’s Best S&P Turning Points (trades are cancelled during Powell’s testimony if volatility is high):
Buy 3976.00 stop 3971.75. Short 4012.75 stop 4018.50.
The World Sentiment Index: (+100/-100) DIPS from +14 to zero in a world of mixed sentiment and mostly low volatility. Historically it’s a coin toss which way price will close.
Catalysts: ADP Payrolls @ 8:15. International Trade @ 8:30. JOLTS & Powell Testifies @ 10:00. EIA Petroleum Status @ 10:30. Max interest of 6% is on the table. Recession more likely.
Quick Tip: Goodbye Dementia
If you’re a Boomer or X-Gen you probably have been paying attention to the progress being made on solving/delaying dementia & Alzheimer’s as we age.
Setting drug research aside, the best thing you can do is to engage in complex, mentally stimulating cognitive activities. Studies have shown that this lowers risk of developing dementia and Alzheimer's disease.
Day trading skills require cognitive demands like research, analysis, decision making, math, and emotional control. What better outcome could you want then staying sharp while you live longer and afford to do it?
When I was teaching trading in classrooms we always wanted the students to think hard about their “Why.” Basically, what was the significant underlying reason they wanted to trade. Most would think money is the answer, or more so what money can buy.
But on a deeper level I always shared mine: “I trade for time, location and financial freedom. I trade to keep my mind sharp.”
I saw firsthand how badly not exercising your brain can diminish and end your latter years in my father. Not happening here.
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