Trade Aptitude

Results of Monday’s Best S&P Futures Turning Points: Neither suggested trade triggered. Both remain on the chart.

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

Buy 4108.00 stop 4103.50. Short 4229.75 stop 4233.50.

The World Sentiment Index: (+100/-100) is -8 in a world of mixed sentiment and low volatility. 

Catalysts: JOLTS Job Openings @ 10:00. Waiting on FOMC tomorrow. 

Quick Tip: Paint Drying

Yesterday was a “watching paint dry” kind of day. The S&P had a range of 15 points in the Globex and 24 points in the day session. That’s only happened once this year so far. 

We’re all raised from young to do something. Study, work, play, anything but loaf. With trading, sometimes there are no trades teeing up.  

Rather than do nothing, it’s the perfect time to dig into some research. You’re looking for similar market conditions and double-checking your trade plan rules. You might find a variation of your entry or exit rules that perform better in the current market condition. 

I did that yesterday and found a variation of our intraday trend entry that pulled a decent profit out of the day under prior similar conditions. With the FOMC announcement tomorrow I’m expecting a repeat today. The research will continue to further validate the change, but I’m confident enough that if today is slow, I have a potential solution. 

Our team day-trades multiple strategies with edge. By documenting and researching on a regular basis we keep improving our trade plans. 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