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...

Results of Monday’s Best S&P Futures Turning Points: Buying 4131.25 triggered in the Globlex catching the low of the session and is still open with 12+ points MFE. 

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

Buy 4120.75 stop 4116.00. Short 4176.50 stop 4181.75. 

The World Sentiment Index: (+100/-100) drops from -21 to -50 with all major world markets modestly Bearish. 

Catalysts: Home Price Index @ 9:00. Yellen speaks on Biden’s economic agenda @ 9:30. Consumer Confidence & New Home Sales @ 10:00. 

Quick Tip: Night Moves

We’ve noticed that the volume levels suggested in this newsletter have been performing much better during the Globex session. Historically, this happens often. Keep that in mind when they don’t trigger during the day session. 

Yesterday’s buy @ 4131.25 triggered at 4:21 ET while most of us...

Results of Friday’s Best S&P Futures Turning Points: Price chopped in a relatively narrow range, neither trade triggered.  

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

Buy 4131.25 stop 4127.50. Short 4176.50 stop 4181.75. 

The World Sentiment Index: (+100/-100) rises from -57 to -21 in a world of mixed bearish-leaning sentiment on lower volatility. 

Catalysts: Nothing on the economic calendar. 

Quick Tip: Fall in Love

I took a call from a fellow over the weekend who was interested in joining our team. His first question was “How consistent are your results?” I said, “Define consistency.” He said, “I can handle a losing day but not a losing week.”

After I explained why that was an unrealistic expectation I went into my coaching questions sequence to understand more about his motivation to...

Results of Thursday’s Best S&P Futures Turning Points: The short @ 4168.25 caught the top of the session and ran for 31.25 MFE and 15.50 at 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 (consider wider stops and less size in fast moving markets): 

Buy 4120.75 stop 4116.00. Short 4176.50 stop 4181.75. 

The World Sentiment Index: (+100/-100) drops from -21 to -57 with most major world markets Bearish. 

Catalysts: PMI Flash @ 9:45. POTUS is getting tougher on Chinese investment by American companies. 

Quick Tip: The Turn

In Texas Hold ‘Em poker you’re dealt two “hole cards” (no one else can see them). In trading the analogy would be your setup to enter. 

The next three cards are called the “flop” (everyone can see them). In trading we...

Results of Wednday’s Best S&P Futures Turning Points: The short @ 4176.50 stopped out. 

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

Buy 4131.25 stop 4127.50. Short 4168.25 stop 4172.25. 

The World Sentiment Index: (+100/-100) rises from -50 to -21 with most major world markets mildly Bearish on lower volatility.

Catalysts: Jobless Claims & Philly Fed MFG Index @ 8:30. Existing Home Sales @ 10:00. Scattered Fed Speak, Yellen tentative. Economy stalled recently, credit is tightening.

Quick Tip: Data Challenges

Technical traders rely on price charts to assess current market conditions and potential future moves. But all price charts are not created equally. You have many choices. 

If you’re using time-based charts you must determine which time intervals apply best to your strategy. If you’re using share (volume)-based charts the same...

Results of Tuesday’s Best S&P Futures Turning Points: Neither suggested trade triggered.

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

Buy 4131.25 stop 4127.50. Short 4176.50 stop 4180.75.  

The World Sentiment Index: (+100/-100) plummets from +36 to -50 with all major world markets Bearish. 

Catalysts: Crude Oil Inventories @ 10:30. Beige Book @ 14:00. Big layoffs announced in Tech & Entertainment

Quick Tip: Nothing Changes?

Here’s a great quote from Market Wizard Ed Seykota, “The markets are the same now as they were 50 years ago because they keep changing – just like they did then.” Clever, huh? 

We’ve seen the S&P volatility and range collapse over the past few weeks. The daily ATR (average true range) has dropped from 76 to 44. On March 23rd when ATR peaked our intraday trend strategy had an 86.75-point day....