Today’s Best S&P Futures Turning Points: Buy 5065.50 stop 5061.25. Short 5176.00 stop 5181.75.

Tuesday’s results: Neither trade triggered. 

The World Index: (+100/-100) lifts from +43 to +64 with most major world markets Bullish on rising volatility. 

Catalysts: Durable Goods @ 8:30. Crude Oil Inventories @ 10:30. 5-Year Treasury Auction @ 13:00. META & IBM earnings after close. TSLA up 12% pre-market.   

Quick Tip: Being Wrong

We’re ingrained from childhood to be right. Rewards for being right, punishment for being wrong. In trading this is destructive thinking. 

George Soros famously said: "It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong."

Of all the words I’ve read about winning and losing, being right or wrong, none sum up the situation better than this quote....

Today’s Best S&P Futures Turning Points: Buy 5004.75 stop 5000.25. Short 5070.50 stop 5075.75.

Friday’s results: Neither trade triggered.

The World Index: (+100/-100) SOARS from -57 to +57 with all major world markets (except China) firmly Bullish. 

Catalysts: Nothing on the economic calendar. 

Quick Tip: Measured Moves

Regardless of the time interval charts you trade, you’ll notice that price tends to move in impulses and corrections. The impulse is in the direction of the trend. The correction is the minor countertrend move. 

Get in the habit of looking to the left on your trading chart and measuring these impulses and corrections. Frequently you’ll see patterns that repeat. 

For example, an 8-point move higher, followed by a 3-point move lower, then a 9 point move higher, followed by a 4-point move lower, etc. These moves are not always precisely the same but have an uncanny way...

Today’s Best S&P Futures Turning Points: Buy 5046.75 stop 5042.75. Short 5176.00 stop 5181.75.

Monday’s results: Buying 5169.50 ran for 16 points. 

The World Index: (+100/-100) PLUMMETS from +24 to -79 with all major world markets very Bearish on higher volatility, S&P Futures up slightly. Contrarian alert: historically longs outperform at this level. 

Catalysts: Housing Starts & Permits @ 8:30. Fed’s Jefferson @ 9:00. Industrial Production @ 9:15. Fed’s Williams @ 12:30, Barkin @ 13:00, Powell @ 13:15.

Quick Tip: Consistency

Having taught over 4000 traders in the past 16 years the goal I’ve heard most often is the desire for consistent profitability. 

You know what profitability is but how do you define consistency in trading? Time certainly enters the definition. Short term traders would likely strive for weekly profitability. Long-term traders look to monthly, quarterly, or...

Today’s Best S&P Futures Turning Points: Buy 5169.50 stop 5164.75. Short 5249.50 stop 5253.50.

Friday’s results: Buying 5215.25 stopped out. 

The World Index: (+100/-100) improves from +7 to +24 with mixed sentiment worldwide. 

Catalysts: Retail Sales, Empire State MFG Index, Fed’s Williams @ 8:30. Housing Market Index @ 10:00.  

Quick Tip: 5 Fears

Fear paralyzes progress in anything you do. In trading, there are 5 types of fear. Recognizing you’re susceptible to them is the first step to a solution. 

Fear of Missing Out (FOMO) – you can’t tolerate watching a winning trade from the sidelines. This breeds impulsivity. Solution: Have an abundance of trade opportunities. 

Fear of Loss – you still feel upset about losing money. Solution: Lower your risk and find a strategy you have confidence in 

Fear of Being Wrong – you are embarrassed to be wrong...

Today’s Best S&P Futures Turning Points: Buy 5215.25 stop 5210.25. Short 5296.25 stop 5300.75.

Thursday’s results: Shorting 5254.25 picked the high of the session and ran for 12 points to the close (more for Swing traders). 

The World Index: (+100/-100) improves from -29 to +7 with Asia Bearish and the west Bullish. 

Catalysts: Earnings season kicks off with the major U.S. banks premarket. Import/Export Prices @ 8:30. Fed’s Collins @ 9:00. UofM Consumer Sentiment & Inflation Outlook (preliminary) @ 10:00. Fed’s Schmid @ 13:00, Bostic @ 14:30, Daly @ 15:30. 

Quick Tip: Swinging Futures

One of the many benefits of day-trading futures over stocks is the capital requirement. With stocks you must maintain a minimum of $25,000 in your account for pattern day trader status giving you 4X leverage. 

There is no minimum in the futures market. In fact, the capital...

Today’s Best S&P Futures Turning Points: Buy 5113.75 stop 5109.25. Short 5254.25 stop 5258.00.

Wednesday’s results: The buy level at 5231.50 was filtered out during the CPI news release volatility. 

The World Index: (+100/-100) drops from +21 to -29 with most major world markets mildly Bearish or flat. 

Catalysts: ECB Monetary Policy @ 8:15. PPI & Jobless Claims @ 8:30. ECB Press Conference, Fed’s Williams @ 8:45, Barkin @ 10:00, Collins @ 12:00, Bostic @ 13:30.

Quick Tip: Best Swing Trades

If you’re a swing trader of stocks or options you probably have some technical analysis rules for entry and exit. There are countless indicators and methods that work just fine. 

One “edge” you might not have optimized yet is your stock/option selection method. Many traders will simply look for the high-volume candidates with appropriate volatility. That’s not enough. ...