The Daily Market Forecast... Best Breakout

Tuesday’s Results: The suggested buy @ 3902 only bounced 4.75 points, but the breakout was good for a 25.00-point run. 

Quick Tip: Best Breakouts

Price is either trending or not. If you’re trading a reversal strategy during a strong trend you’ll likely lose. If that same reversal strategy has rules to “flip” to breakout and join the trend, you have a good chance of covering the reversal loss and if the trend is strong, net out a winner. This is exactly what happened yesterday with the suggested buy. 

Keep in mind as you follow the performance of the Blog levels every day they are both reversal and breakout setups. 

Caution is required, though. Not every breakout opportunity has edge. You need to know the historical performance during various market conditions to "filter" in or out these powerful continuation setups. 

Today’s Best S&P Turning Points:

Sell 3970.00 stop 3974.25. 

Buy 3870.50 stop 3864.75. 

Trade Fearlessly,

Mike Siewruk

P.S. What’s more important in trading? Math or emotions? Learn how to change your unwanted behavior here.