Trade Aptitude

Results of Tuesday’s Best S&P Futures Turning Points: Neither trade triggered. The levels stay on the chart. 

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

Buy 4926.00 stop 4920.75. Short 4987.00 stop 4992.75.  

The World Index: (+100/-100) eases from +19 to -13 with most major world markets modestly Bearish. 

Catalysts: Trade Balance @ 8:30. Crude Oil Inventories @ 10:30. Fed-speak @ 11:00, 12:30, and 14:00. 10-year Bond Auction @ 13:01. 

Quick Tip: Watch Bonds

Of all the economic information traders watch for directional clues the bond auctions are the rising stars. Bloomberg reported Citigroup findings that the S&P 500 index has moved 1% in either direction on auction days recently. 

How can you use this data? 

Consider adjusting your entry and exit rules. Expecting a big move and seeing it manifest allows you to enter sooner and exit later than usual. 

As with all discretionary changes to your plan, document the results with your “reason why” analysis as well as the P&L. To build this data set and gain confidence faster, review the past 2 years of bond auction days. You might find an edge. 

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Trade Fearlessly,

Mike Siewruk

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