The Daily Market Forecast

Tuesday’s Results: The suggested short @ 3891.50 stopped out. 

Quick Tip: Reframe Losing

Our morning Live Trading Room is open for two hours. It’s recorded and posted to the website immediately afterward. There is a “cover” on each recording with a headline that summarizes the session (see above). 

Yesterday was one of those days when every trade I personally took failed. There were winning trades teed up by the multiple strategies we follow. In fact, our trend-following strategy killed it with the S&P. Not my trade selection, though.

Afterward, a team member texted me this: “The trading Gods simply wouldn’t give you a break today, and you still maintained your posture and calm demeanor throughout.” 

The fact is I didn’t feel badly yesterday. Losing happens. My daily cash risk is within my personal risk tolerance.

Winning and losing cycles. Sometimes those “streaks” are long, sometimes short, but they all end. Reframe your big losing day. Know that the winners are coming soon. :-)

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

Sell 4014.75 stop 4020.25.

Buy 3876.75 stop 3871.75.

Trade Fearlessly,

Mike Siewruk 

P.S. Our FREE “Ultimate Trade Plan” class is being updated with FAR MORE details focused on personalization. Join me for the LIVE debut on Thursday July 28 @ 7 PM ET. Only 100 seats are available, reserve yours now. Click here. 

P.P.S. This is your only opportunity to attend for FREE. The tuition afterward will be $197.