Trade Aptitude
Results of Thursday’s Best S&P Futures Turning Points: Shorting 4155.50 triggered late in the day catching the top of the session but only good for a few points at the close.
Today’s Best S&P Futures Turning Points (disqualified during PCE announcement until expected volatility calms):
Buy 4108.00 stop 4103.50. Short 4176.50 stop 4181.75.
The World Sentiment Index: (+100/-100) drops from +36 to +7 with Asia Bullish and the west Bearish.
Catalysts: Personal Income/Spending, PCE Price Index & Employment Cost Index @ 8:30. Chicago PMI @ 9:45. Revised Consumer Sentiment & Inflation Expectations @ 10:00. AMZN beats, doesn’t hold gain on cloud growth forecast. BOJ sticks with stimulus.
Quick Tip: Swinging
Traders come in different colors. Short term, long term, institutional, and retail. Quite a mix of intentions. If you read this newsletter every day you’re probably a retail trader.
Normally I write about day trading but today we’re going to focus on swing trading. These are trades you intend to last from days to weeks, maybe months.
As such, your preferred assets are probably stocks, options, currencies, and cryptos. But this quick survey is only for the stocks and options traders.
Imagine you had all the following tools available to you. Which would be the most important to you? Which would rank #1?
1. Technical Indicators
2. Fundamental Analysis
3. Price Action
4. Insider Information
Hit reply (mike@thedailymarketforecast.
You may be very surprised at the ranking.
Trade Fearlessly,
Mike Siewruk