The Daily Market Forecast... Volume Bars

Friday’s Results: Friday’s Results: Neither trade suggestion triggered. 

Quick Tip: Volume/Share Bars

Trading can be simplified to the analysis of 3 variables: price, time, and volume. Using time-based charts is most common and important. In them you can see wide and narrow range bars/candles giving you evidence of where big moves started and slowed or stopped. Good to know. 

Another view that offers some “hidden” information is the Volume or Share bar. These are time independent. They paint a new bar after “X” number of shares/contracts have traded. If you’re trading an active futures contract like the S&P (or a stock like AAPL) you can have your share bars set to 10,000 (or more) to instantly “see” what volume filled in a move by simply counting the bars. That can be accomplished by adding a volume indicator to the chart, but with the share bars you’ll see the trend differently on the chart. For trend traders this is a big benefit. Try it. 

Learn more about multi-strategy trading.  Join me on Sunday July 10 @ 5PM ET for our new FREE mini class “Optimizing Multi-Strat Trading.” The class is limited to 100 traders and seats are filling up. Reserve yours now. 

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

Sell 3860.50 stop 3866.25.  

Buy 3784.00 stop 3778.25.

Trade Fearlessly,

Mike Siewruk

P.S. With the Futures Globex session opening during Sunday’s free class, you might see some live trades. Register now.