Trade Aptitude

Results of Friday’s Best S&P Futures Turning Points: Buying 4386.75 picked the bottom of the session and bounced 4 times running for 20.75 points to the next level. Feel better about the win by donating a slice to my preferred charity, the Alzheimer’s Association. Click here.

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

Buy 4357.50 stop 4353.25. Short 4407.50 stop 4410.75. 

The World Sentiment Index: (+100/-100) rises from -71 to -50 with most major world markets Bearish. 

Catalysts: Nothing on the economic calendar. Maybe Wagner will change its mind again and head back to Moscow.  

Quick Tip: Trade Analysis

What a day! Any time your reversal strategy picks the top and the bottom you gotta feel confident in your research and plan. 

The high-volume level at 4386.75 is what we call a “tertiary” level. It was not primary (the largest volume at price) and it wasn’t secondary (the second largest volume at price). 

You might be thinking "3rd place" is not worth trading. Not true. 

The evidence we’ve collected over thousands of trades shows that these tertiary levels are almost equal in effectiveness to their bigger siblings. 

On the chart above you’ll notice that we terminated the trade at a volume level that wasn’t shared in this newsletter. There can be many levels that are tradable daily. 

Team members knew this level at 4407.50 was a high-probability reversal. Being long with momentum, you may not take the reversal, although that was even better with a plunge right back to the bottom. But that’s OK. It was the perfect exit for the long trade. 

Mike Siewruk

P.S. It's our 3-year anniversary this month and we're celebrating by offering qualified new members a fabulous gift! Watch the replay of our latest training session for details on all the trading software and services you can have at a small fraction of the normal price. Click here.