The Daily Market Forecast
Tuesday’s Results: : The market churned sideways awaiting today’s CPI news. No trades triggered.
Quick Tip: Ask Yourself
Today is a big day for the stock market. The CPI (inflation) results for July come out at 8:30 ET. We’ve been in a trading range for several days. It’s almost a certainty price will break out into a trend. Up or down.
You should be asking yourself how you’re going to respond. Being proactive and planning the details will get you the calm confidence to execute with no doubt. What will you do if it soars? How about if it crashes? What if it whipsaws?
Are you hearing crickets up there? Don’t know what to do? Can’t decide? Don’t know if your decision will be the right one?
Dr. Brett Steenbarger, trader psychologist to the stars and author of Enhancing Trader Performance said this:
“There is no question in my mind that, if I were to start trading full-time—knowing what I know now—I would either join a proprietary trading firm or would form my own “virtual trading group” by connecting online (and in real time) with a handful of like-minded traders.”
Why? Because you can stop asking yourself and get some new and different answers! Collaboration, synergy, teamwork. It makes it so much easier.
Join our trading team risk-free. Click here for details.
Today’s Best S&P Turning Points (in fast moving markets consider a wider stop and less size):
Sell 4292.50 stop 4297.50.
Buy 3982.00 stop 3976.25.
Trade Fearlessly,
Mike Siewruk
P.S. Multiple strategies, software tools, teammates, and coaching. Learn why you should join our team here. For a personal consultation to assess fit (without selling) email me for an appointment: mike@thedailymarketforecast.