Trade Aptitude

Results of Tuesday’s Best S&P Futures Turning Points: Price chopped in a very narrow range, neither trade triggered. The same levels are valid today.

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

Buy 4096.75 stop 4092.00. Short 4186.75 stop 4190.50.

The World Sentiment Index: (+100/-100) DIPS from -36 to -50 with all major world markets mildly Bearish.

Catalysts: CPI @ 8:30. Crude Oil Inventories @ 10:30. 10-year Bond Auction @ 13:01. Debt limit politics. 

Quick Tip: Filter or Not? 

Are there market conditions that your strategy performs better or worse in? Probably so. Price is either trending or not and volatile or not. These are very different conditions and knowing with evidence how your strategy performs in each of them is important. 

Why? Because you’ll be able to filter out trade setups in conditions that are not ideal. These filters become rules in your trade plan, which is a living document requiring this very type of updating. 

For example, our team day trades the S&P futures using an intraday trend strategy (one of several strategies the team can choose trades from). With yesterday’s day session’s range of only 14.25 points, trends were non-existent!

But how would you know beforehand? No guarantees but looking at all the evidence can be very helpful. The Globex session was quiet. The opening range was relatively narrow. There were no obvious catalysts. CPI will be released the next day (today). Add all that up and it’s highly likely you’re going to see a quiet session. 

The point isn’t being “right” or “wrong” in your analysis. You simply want context that guides your expectations. 

Our team day-trades multiple strategies with edge. Choices are plentiful. Join the team, learn the strategies, and trade live with us daily for 30 days. Money back if you’re not blown away!

Trade Fearlessly,

Mike Siewruk