Trade Aptitude

Friday’s Best S&P Turning Points Results: Neither trade suggestion triggered. 

Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets): 

Short 3843.25 stop 3849.00. Buy 3728.25 stop 3724.00.

The World Sentiment Index: (+100/-100) EASES from +64 to +50 with most major world markets bullish. Historically the market closes lower from the open 54% of the time. 

Catalysts: Nothing on the economic calendar. Elections and CPI on Thursday are the drivers this week. Tech layoffs, lowered earnings estimates. 

Quick Tip: Intra-day Trend

If you look at a 15-minute chart of the S&P Futures from Friday you wouldn’t call it a “trending” day. It was smoothly higher during the Globex session and then reacted violently to the payrolls report swinging down, up, down, up, down and ending modestly up. 

Trend is time-frame dependent, though. In our trading room we use a proprietary intra-day trend strategy on a volume bar chart. The swings were captured nicely producing a 135-point day. Admittedly this is a rare performance but getting days like this a few times a month makes all the difference. 

If you’re not trading intra-day trends you should start!

Trade Fearlessly,

Mike Siewruk

P.S. If your strategies have proven edge and your results are spotty then you need to change your behavior. Click to learn how.