Today’s Best S&P Futures Turning Points: : Buy 5321.50 stop 5317.50. No short suggestion today.
Friday’s results: Neither trade triggered.
The World Index: (+100/-100) soars from -7 to +50 with all major world markets Bullish.
Catalysts: Fed Speakers: Bostic @ 7:30 & 8:45, Waller & Barr @ 9:00, Jefferson @ 10:30, Mester @14:00.
Quick Tip: Blackjack
Much has been said about the similarities between trading and gambling. Much is true. All is not. A fabulous book you should read about this topic is A Man for All Markets by Edward O. Thorp, an accomplished mathematician, author of Beat the Dealer, and acclaimed hedge fund manager.
When Thorp tested his blackjack card counting system in the real world, financed by two wealthy (and greedy) millionaire businessmen, he uncovered a significant “edge” that you can and should apply to your trading.
His backers wanted...
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Today’s Best S&P Futures Turning Points: Buy 5185.25 stop 5181.75. Short 5249.50 stop 5253.50.
Tuesday’s results: Neither trade triggered.
The World Index: (+100/-100) drops from +29 to -7 with Asia Bearish and the western world mildly Bullish.
Catalysts: Crude Inventories @ 10:30. Fed Speakers: Jefferson @ 11:00, Collins @ 11:45, Cook @ 13:30. 10-Year Note Auction @ 13:00.
Quick Tip: Fractals
One common rule in many trading strategies is to honor the trend from a higher time frame. If you’re day-trading a 5-minute chart, consider the 30-minute trend. If you’re swing trading a 60-minute chart, consider the daily trend.
There is more to be gained from this multiple time frame analysis.
Markets are fractal, meaning the price patterns on the chart repeat themselves in different time intervals. With this knowledge, here’s some ideas for gaining edge:
1. Entries...
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