Results of Wednesday’s Best S&P Futures Turning Points: Neither level triggered and remain on the chart. 

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) jumps from -50 to -14 in a world of mixed sentiment and low volatility. 

Catalysts: PPI & Jobless Claims @ 8:30. 30-year Bond Auction @ 13:01. 

Quick Tip: Need to Know

Curiosity leads to learning. We want to know the “what, why, how, when & where.” 

All good. Except in day trading. 

At 7:00 ET this morning the S&P and oil broke their ranges and dropped fast. Gold did the opposite. My impulse was to find out what happened. I was curious, but does it matter? The trade setup I would enter at that time would likely last less than an hour. Do I need to...

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...

Results of Monday’s Best S&P Futures Turning Points: Neither volume level triggered. 

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) PLUMMETS from +50 to -36 with most major world markets Bearish.  

Catalysts: Nothing important on the economic calendar. Waiting on CPI tomorrow. 

Quick Tip: Is it Fun?

In James Clear’s awesome book Atomic Habits, he reveals “The Truth About Talent.” While there is a genetic component to the answer, it’s not the only component. 

Talent also comes from learning, training, and practice. But before you agree to dedicate yourself to all that work, you need to really like what you’re doing. It’s difficult to persist when you don’t like something. It’s easy to persist when you...

Results of Friday’s Best S&P Futures Turning Points: Shorting 4141.50 offered a 14.25-point run before reversing. 

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 4206.50 stop 4212.25.

The World Sentiment Index: (+100/-100) continues up from +36 to +50 with most major world markets Bullish. 

Catalysts: Nothing important on the economic calendar. 

Quick Tip: Smart Money 

Media sells ads and that requires readers/viewers. Unfortunately, negative news that scares and creates fear tends to win out over the positive news with most people. 

Take the plunge in the banking sector for instance. Last week I suggested a tool to add to your swing/position trade plans using insider buying as a filter for stock/option selection. That day, there were several banks that had significant insider buying reported to the...

Results of Thursday’s Best S&P Futures Turning Points: Neither suggested volume level triggered. 

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

Buy 4059.25 stop 4055. Short 4141.50 stop 4146.25.

The World Sentiment Index: (+100/-100) jumps from -7 to +36 with most major world markets mildly Bullish. 

Catalysts: Non-Farm Payrolls @ 8:30. AAPL comes through, risk-on mood today. 

Quick Tip: Three Q’s

The best formulas for success are simple. 

“The starting point of all achievement is desire.” Napoleon Hill

“You do not rise to the level of your goals; you fall to the level of your systems.” James Clear

“To begin with the end in mind means to start with a clear understanding of your destination.” Stephen Covey

My favorite which applies to every trade comes from Keith Cunningham, author of The Road Less...

Results of Wednesday’s Best S&P Futures Turning Points: Neither suggested volume level triggered. 

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

Buy 4059.25 stop 4055. Short 4136.25 stop 4140.00

The World Sentiment Index: (+100/-100) drops from +17 to -7 in a world of mixed sentiment and low volatility.  

Catalysts: Int’l Trade, Jobless Claims, Productivity and Costs @ 8:30. Banking collapse fears intensify with PacWest plunge. 

Quick Tip: Control

Imagine starting in trading without any historical information. No price charts. No patterns to study. No “tapes” to read. No economic information. No annual reports. What would you use to determine if it was time to buy or sell? 

Thankfully, we needn’t dwell on that question at all. We have incredible historical information available that we can research for potential edge in our trading....

Results of Tuesday’s Best S&P Futures Turning Points: Buying 4108.00 picked the bottom of the session and ran for 29.75 to the close. 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 (careful around the FOMC announcement and Press Conference): 

Buy 4059.25 stop 4055. Short 4186.75 stop 4190.50.

The World Sentiment Index: (+100/-100) rises from -8 to +17 in a world of mixed sentiment and low volatility.  

Catalysts: ADP Employment Report @ 9:15. Final PMI Services @ 9:45. ISM Services PMI @ 10:00. Crude Oil Inventories @ 10:30. FOMC Statement @ 14:00 and Press Conference @ 14:30. 

Quick Tip: Buy Banks?

This has nothing to do with day trading futures, the usual topic here. I found some interesting evidence that may appeal to those of you who swing and position trade stocks and...

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...

Results of Wednesday’s Best S&P Futures Turning Points: Neither level triggered. 

Today’s Best S&P Futures Turning Points (disqualified during GDP announcement until expected volatility calms): 

Buy 4059.25 stop 4055.00. Short 4155.50 stop 4158.50.

The World Sentiment Index: (+100/-100) leaps from -21 to +36 with all major world markets neutral to Bullish on lower volatility. 

Catalysts: GDP & Jobless Claims @ 8:30. Pending Home Sales @ 10:00. META beats, holds 12% gain. 

Quick Tip: Persistence

Every successful person in trading and in life has gone through barriers and setbacks to achieve their success. 

In trading everyone deals with losing streaks, drawdowns, unfilled winning trades, slippage, internet outages, criticism from family and friends, and more. 

“I have not failed. I have just found 10,000 ways that won’t work.” Thomas Edison

“I have...

Results of Tuesday’s Best S&P Futures Turning Points: Buying 4120.75 only bounced for 4.50 points. 

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

Buy 4059.25 stop 4055.00. Short 4155.50 stop 4158.50.

The World Sentiment Index: (+100/-100) jumps from -50 to -21 in a world of Bearish leaning mixed sentiment. 

Catalysts: Durable Goods & International Trade @ 8:30. Crude Oil Inventories @ 10:30. MSFT holds big gain, GOOG not so. Maybe waiting on GDP tomorrow, Personal Income on Friday.

Quick Tip: Stop & Reverse

After bouncing 4.50 points off the suggested volume level price plummeted 20+ points to the close. If you’re a novice trader you may be disappointed at the loss. If you’re a seasoned trader you’re OK with the loss. You planned for it. You only risked what you could comfortably afford to lose both financially and...