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Today’s Best S&P Futures Turning Points: : Buy 5248.75 stop 5244.75. Short 5296.25 stop 5300.75 (filtered out during CPI release due to potential volatility).
Tuesday’s results: The buy at 5231.25 was filtered out during the PPI release volatility.
The World Index: (+100/-100) remains at -7 for the third day in a row with sentiment mixed on continued low volatility.
Catalysts: CPI, Retail Sales, Empire State MFG Index @ 8:30. Housing Market Index @ 10:00. Crude Oil Inventories @ 10:30. Fed’s Kashkari @ 12:00 and Bowman @ 15:20.
Quick Tip: Why Day Trade?
If you have a long-only portfolio, IRA, and/or 401-K you’re probably happy with your 2024 performance so far. You’re also likely concerned about how much higher the market will go!
The adage “Sell in May and go away” doesn’t work out every year, but there is the possibility. Couple the time of year with multiple wars, Chinese trade tension, stubborn inflation, high interest rates, etc., and you’re thinking about protecting your gains.
You could buy index put options as insurance. That’s an expense, though. Timing of expiration is tricky as well.
You might be better off day-trading the potential drop using futures contracts that have superb leverage and other benefits. Read the white paper here.
And yes, if you want to keep the gains in your retirement account, you can day trade futures long and short in an IRA.
Most investors think diversification is limited to portfolio selection. Strategy diversification and a different time horizon are excellent alternatives.
Do you want to try day-trading to see if it's for youf? Join our team. You can learn the strategies and trade live with us daily for 30 days. Money back if you’re not blown away! Take advantage of the final days of this promotional price.
Trade Fearlessly,
Mike Siewruk
P.S. Feel free to pass this along to your trading buddies. Share in the wealth!
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