Trade Aptitude

Results of Thursday's Best S&P Turning Points: Neither trade idea triggered. 

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

Short 4002.25 stop 4006.50. Buy 3937.00 stop 3933.25. 

Globex View: Trading above yesterday’s high expecting a melting up or range bound day unless the catalysts are negative.  

The World Sentiment Index: (+100/-100) JUMPS from to +50 with most major world markets bullish. Historically price will close below the open 54% of the time. 

Catalysts: PPI @ 8:30. Consumer Sentiment & Inflation Expectations @ 10:00.  

Quick Tip: DeMark’s Advice

If you haven’t heard of Thomas DeMark, he is arguably one of the most influential technical traders on the planet. His client list is beyond impressive (Goldman, Citi, Tudor-Jones). He has authored dozens of proprietary technical indicators for himself and his clients. 

In his book The New Science of Technical Analysis, he writes about public domain technical indicators and how to use them. The following quote struck home with me years ago and it dramatically changed the way I use indicators: 

“Individuals (traders) not only limit the scope of their research to various widely followed indicators but also practice generally accepted methods of interpretation. They totally lack creativity and fail to develop their own indicators or improve upon existing ones.”

Starting with changing existing indicators to improve performance led me to developing my own proprietary indicators. All fully researched and documented to have edge. I encourage every technical trader to do the same. Be different.

But if you’re too busy or not skilled at programming, you can hack the process by joining our team! We share our non-public tools with our members. 

Trade Fearlessly,

Mike Siewruk 

P.S. Feel free to share this blog with all your trading buddies.