Results of Monday’s Best S&P Futures Turning Points: Neither trade triggered. 

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

Buy 5097.00 stop 5092.25. Short 5138.25 stop 5143.00. 

The World Index: (+100/-100) drops from -19 to -31 with the major world markets leaning Bearish on very low volatility. 

Catalysts: Final Services PMI @ 9:45. ISM Services PMI @ 10:00. Fed’s Barr @ 12:00 & 15:30. 

Quick Tip: Change is Coming

Here’s a great quote from Market Wizard Ed Seykota, “The markets are the same now as they were 50 years ago because they keep changing – just like they did then.” Clever, huh? 

Lately it seems that every morning is a waiting game for price to break out of a narrow range. Trend attempts fail. Reversals get modest gains. 

What to do? 

1. Have abundance. The more strategies...

Results of Friday’s Best S&P Futures Turning Points: The short idea was filtered out during the 10:00 economic releases but worked well running 15 points. 

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

Buy 5097.00 stop 5092.25. Short 5093.00 stop 5097.75 if price drops below and retraces back to entry. 

The World Index: (+100/-100) drops from +13 to -19 with the major world markets mixed on very low volatility. 

Catalysts: Nothing on the economic calendar. 

Quick Tip: How You Feel

Looking at Friday’s chart you see that the short entry was filled with minimal adverse move and ran for a quick 15 points. Great way to start the trading day!

Except this occurred during an important economic news release. The volatility can be extreme and slippage both on entry and exit can ruin your result. 

Imagine, our team is trading...

Results of Thursday’s Best S&P Futures Turning Points: The short idea was filtered out during PCE release, as noted.

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

Buy 5046.75 stop 5042.75. Short 5117.50 stop 5121.00.

The World Index: (+100/-100) eases from +19 to +13 with most major world markets mildly Bullish. 

Catalysts: Final MFG PMI @ 9:45. ISM MFG PMI, ISM MFG Prices & Revised UoM Consumer Sentiment @ 10:00. Fed’s Waller @ 10:15, Bostic @ 10:50, Daly @ 13:30, Kugler @ 15:30. 

Quick Tip: Not Gambling

The uninformed frequently consider trading a form of gambling. But even the trader who knows there are similarities and differences doesn’t always focus on the keys to taking the “gamble” out of their trade plan. 

Consider these and audit your personal trade plan for compliance. 

1. Trading uses probabilities from...

Results of Wednesday’s Best S&P Futures Turning Points: Neither trade triggered. 

Today’s Best S&P Futures Turning Points (all trades filtered during PCE release): 

Buy 5046.75 stop 5042.75. Short 5083.75 stop 5086.50.

The World Index: (+100/-100) jumps from -44 to +19 with mixed sentiment across the planet.  

Catalysts: PCE/Personal Income/Spending & Jobless Claims @ 8:30. Chicago PMI @ 9:45. Pending Home Sales @ 10:00. Fed’s Bostic @ 10:50 and Mester @ 13:15.

Quick Tip: Consistency

Markets are either trending or not, volatile, or not. It should be no wonder that traders may have similar cycles of performance, winning streaks, losing streaks, consistency, and inconsistency. 

If you’re NOT in the zone, here’s a simple but highly effective checklist to work through. 

1. Take a break, clear your mind, and come back to trading with a fresh perspective.

2. Analyze your past trades...

Results of Tuesday’s Best S&P Futures Turning Points: : Neither trade triggered. 

Today’s Best S&P Futures Turning Points (all trades filtered during GDP release): 

Buy 5046.75 stop 5042.75. Short 5117.50 stop 5121.00.

The World Index: (+100/-100) plummets from +38 to -44 with most major world markets Bearish on rising volatility. 

Catalysts: GDP @ 8:30. Crude Oil Inventories @ 10:30. Fed’s Bostic @ 12:00 and Williams @ 12:45. 

Quick Tip: Pros Agree

Three celebrated authors on trading success, Mark Douglas, Van Tharp, and Alexander Elder, all agree that one aspect of trading is crucially important: 

"The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading." - Mark Douglas

"Successful trading is not about being right; it’s about being disciplined. Discipline is the ability to follow one's trading plan,...

Results of Monday’s Best S&P Futures Turning Points: : Buying 5173.00 filled in the Globex session last night running 14+ points and still open. 

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

Buy 5046.75 stop 5042.75. Short 5117.50 stop 5121.00.

The World Index: (+100/-100) jumps from -25 to +38 with all major world markets neutral to modestly Bullish. 

Catalysts: Durable Goods @ 8:30. Home Price Index @ 9:00. Fed’s Barr @ 9:05. Consumer Confidence & Richmond MFG Index @ 10:00. 

Quick Tip: Set/Forget 

One of the nice features of trading the levels from this newsletter is the set/forget entry available on the reversals. 

Yesterday’s buy at 5173.00 didn’t trigger until 12:55 AM ET. Depending on your time zone you may have been sleeping. Placing the order beforehand brought you a welcome “Good Morning!” if...

Results of Friday’s Best S&P Futures Turning Points: The trade idea never triggered. 

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

Buy 5073.00 stop 5068.50. Short 5117.50 stop 5121.00.

The World Index: (+100/-100) drops from +38 to -25 with most major world markets neutral to modestly Bearish on less volatility.  

Catalysts: New Home Sales @ 10:00. 

Quick Tip: Bubbles

Warren Buffett is famous for his annual letter to shareholders. If you haven’t read one you should know that he’s a great writer and borderline humorist. 

Since we’re at all-time highs and the AI craze is bringing out the word “bubble” I want to share some Buffett on that topic with you. 

Feb. 25, 2012 “Over the past 15 years, both Internet stocks and houses have demonstrated the extraordinary excesses that can be created by combining an...

Results of Thursday’s Best S&P Futures Turning Points: The trade idea never triggered. 

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

Buy 5073.00 stop 5068.50. No great shorts today. 

The World Index: (+100/-100) eases from +69 to +38 in a mildly Bullish world on plummeting volatility. 

Catalysts: Nothing on the economic calendar. Let’s see if there is any follow-through from the NVDA rally. 

Quick Tip: You’re the Enemy

Showing my age here quoting Walt Kelly’s Pogo cartoon: “We have met the enemy, and they are us.” 

Developing traders put so much time and effort into finding the best strategy and risk management plan (both important) that they ignore the real enemy in trading. 

Your personal psychology about winning or losing, and being right or wrong, will ruin your performance more than a mediocre...

Results of Tuesday’s Best S&P Futures Turning Points: Neither trade triggered. 

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

Buy 5046.75 stop 5042.75. No great shorts today. 

The World Index: (+100/-100) soars from +6 to +69 with all major world markets (except India) firmly Bullish. 

Catalysts: Jobless Claims @ 8:30. Flash MFG/Services PMI @ 9:45. Existing Home Sales & Fed’s Jefferson @ 10:00. Crude Oil Inventories @ 11:00. NVDA sparks worldwide rally in equities. 

Quick Tip: Hybrid Trading

There isn’t only “one way” to trade successfully. There are countless strategies and methods that can be profitable. You need to find what resonates with your trading psychology, style, and risk tolerance. 

For example, consider two popular styles of trading: trend following and mean reversion. They both can be very profitable...

Results of Tuesday’s Best S&P Futures Turning Points: Buying 4972.75 only offered a 6.50-point bounce. 

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

Buy 4926.00 stop 4920.75. Short 5026.50 stop 5031.00.

The World Index: (+100/-100) inches up from zero to +6 in a world of mixed sentiment and rising volatility. 

Catalysts: Fed’s Bowman @ 13:00. FOMC Meeting Minutes @ 14:00. NVDA after the bell.

Quick Tip: Why Multi-Strat?

If you read this blog daily you know that our team trades live daily in a multi-strat environment. Focusing on multiple strategies is not for everyone. In fact, few of our team trade all the strategies. 

So why know how to trade them? 

1. Diversity. Markets change character. They’re either trending or not, volatile, or not. No single strategy works well in all those conditions. Having the choice...