The Daily Market Forecast... trend or reversal?

Thursday’s Results: The short @ 3900.75 stopped out. The breakout long was only good for 8 points. 

Quick Tip: Trend or Reversal?

You might be thinking that trading the trend sounds safer than picking a turning point. Many strategies focus on trading in the direction of a larger time frame trend. This makes sense and it works. 

But it’s not necessarily “safer.”  Your initial priority is making sure your trade plan rule set has “edge,” meaning over time it’s profitable. After you have that the idea of “safe” becomes irrelevant. Just trade the strategy that appeals to you psychologically. 

Here’s an even better idea: Learn both trend and reversal trading then use the correct strategy for the current market condition. Sounds simple but just like trading in general, not necessarily easy. Given enough research and statistical evidence, you can get an edge with your strategy choice decision. 

We’ll be covering this concept in our new FREE mini class “Optimizing Multi-Strat Trading” on Sunday July 10th @ 5 PM ET. The class is limited to 100 traders and seats are almost gone. Reserve yours now. 

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

Sell 3943.00 stop 3947.25.  

Buy 3834.50 stop 3829.75

Trade Fearlessly,

Mike Siewruk

P.S. With the Futures Globex session opening during Sunday’s free class, you could see some live trades. If not, at least you’ll see what a detailed Globex trade plan looks like. Register now.