Yesterday’s results: Buying 5889.75 was only good for a 5-point scalp. The short idea didn’t trigger.
Today’s Best S&P Futures Turning Points: Buy 5909.50 stop 5904.75. Short 5975.50 stop 5981.25.
The World Index: (+100/-100) drops from +29 to zero with sentiment mixed and volatility low.
Catalysts: Jobless Claims & Philly Fed MFG Index @ 8:30. Fed’s Hammack @ 8:45, Goolsbee @ 12:25, Hammack @ 12:30, Barr @ 16:40. Existing Home Sales @ 10:00.
Quick Tip: New Paradigm
What are your beliefs about successful trading? How have you been taught?
Technical analysis? – “All I need is a good indicator or two to be a winner, history repeats itself enough for me.” That’s OK.
Fundamental analysis? – “Indicators are lagging, I want to study and KNOW the asset I’m trading to predict the future with confidence.” That’s OK too.
Chart analysis? – “Patterns on the chart are predictive of price movement, I trade what I see based on support and resistance, supply and demand, trendlines, and/or volume/volatility changes.” That’s OK as well.
Combination? – “I prefer to combine some or all of these beliefs for confluence to get my edge.” Sounds good, too.
Are you ready to learn a new paradigm? It’s powerful and hidden from the price charts. It’s based on a ton of evidence and it’s more predictive than any of the above methods. Join me today Thursday November 21 @ 1PM ET to learn more. No disappointments!
Trade fearlessly,
Mike Siewruk
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