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

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

Buy 4259.50 stop 4254.00. Short 4305.00 stop 4309.00.

The World Index: (+100/-100) SOARS from zero to +64 with most major world markets very Bullish. 

Catalysts: Jobless Claims @ 8:30. Powell hints dovish.

Quick Tip: Play to Win 

All your results start with your orientation toward life. In Larry Wilson’s book, Play to Win: Choosing Growth Over Fear in Work and Life, he reveals the two orientations that you must choose between.

1. Play to win.

2. Playing not to lose. 

What’s the difference? 

People who have a positive attitude packed with a view of abundant opportunities that are willing to overcome challenges, grow and risk for gain are “Playing to Win.” 

...

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

Today’s Best S&P Futures Turning Points (FOMC Filter applies from 14:00 to 15:00, no entries): 

Buy 4096.75 stop 4092.00. Short 4270.75 stop 4276.50.

The World Index: (+100/-100) eases from +14 to zero with Tokyo soaring and all other major world markets relatively flat. 

Catalysts: ADP Payroll @ 8:15. Final MFG PMI @ 9:45. ISM MFG PMI & JOLTS @ 10:00. Crude Oil Inventories @ 10:30. FOMC Statement @ 14:00 & Press Conference @ 14:30. 

Quick Tip: Trend or Reversal?

You might be thinking that trading trends sounds safer than picking a turning point. Many strategies focus on trading in the direction of a larger time frame trend. This makes sense and it works. 

But it’s not necessarily “safer.”  Your initial priority is making sure your trade plan rule set has “edge,” meaning over time...

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

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

Buy 4164.25 stop 4159.50. Short 4225.50 stop 4230.75.

The World Index: (+100/-100) eases from +29 to +14 with China/HK struggling and the remaining major markets Bullish. 

Catalysts: Employment Cost Index @ 8:30. Home Price Index @ 9:00. Chicago PMI @ 9:45. Consumer Confidence @ 10:00. Waiting for FOMC tomorrow.   

Quick Tip: Sweet Dreams 

The futures market opens at 6:00 PM ET. It’s called the Globex session, and it is usually easier money than the day session. 

Why? The participants are different. Day session volume brings out all the large lot and algo traders and that creates a nosier effect on price action. 

If you’re thinking “I don’t have the time to analyze the market and know where to...

Results of Friday’s Best S&P Futures Turning Points: Buying 4126.50 picked the bottom of the session multiple times offering 16 points maximum and 13.50 at the close. 

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 4208.25 stop 4212.00.

The World Index: (+100/-100) drops from +57 to +29 with most major world markets mildly Bullish.

Catalysts: Nothing on the economic calendar. Waiting for FOMC Wednesday is likely.  

Quick Tip: Second Helpings

The volume level that held the market up on Friday was originally produced on May 24th. It was also Thursday’s day session low. And it generated 4 winning entry signals on Friday. 

What should we expect going forward? 

Traditional technical analysis looks at a price level that often works as strong support. While that may be in some cases, the...

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

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

Buy 4126.50 stop 4120.75. Short 4208.25 stop 4212.00

The World Index: (+100/-100) SOARS from -50 to +57 with most major world markets solidly Bullish. 

Catalysts: PCE Price Index @ 8:30. Fed’s Barr @ 9:00. UofM Consumer Sentiment @ 10:00. AMZN/INTC earnings suggest risk-on. 

Quick Tip: Drop the Ego

One of the hardest transitions to make as a trader is the reframing of your belief about winning and losing. We were raised defining winning as good and losing as bad. Now we must change that belief.

Mark Douglas, author of two books on trading psychology said, “When you really believe that trading is simply a probability game, concepts like right or wrong or win or lose no longer have the same significance.” 

Curtis...

Results of Wednesday’s Best S&P Futures Turning Points: Buying 4181.75 stopped out in the Globex session last night. 

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

Buy 4126.50 stop 4120.75. Short 4270.75 stop 4276.50.

The World Index: (+100/-100) drops from zero to -50 with most major world markets Bearish on increasing volatility.  

Catalysts: GDP, Jobless Claims, Durable Goods, and Trade Balance @ 8:30. Fed’s Waller @ 9:00. Pending Home Sales @ 10:00. Bloomberg: Putin said there’s a risk that an escalating conflict could “spill far beyond the borders of the Middle East.” META down in pre-market on forecast of uncertainty. 

Quick Tip: When to Bank It

How traders approach their craft is very individual. Three traders using the same strategy may have different beliefs that vary their results, yet they follow the same asset selection and...

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

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

Buy 4181.75 stop 4177.50. Short 4305.00 stop 4309.00.

The World Index: (+100/-100) drops from +21 to zero in a world of mixed sentiment and low volatility.  

Catalysts: New Home Sales @ 10:00. Crude Oil Inventories @ 10:30. Earnings from 251 companies including META after the close. 

Quick Tip: Confirmation

Here’s a great quote from Jesse Livermore that deserves your attention, “"Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong."

In our effort to succeed we can devote too much effort to predicting the future. Good luck. The problem is that our predictions are correct just enough to...

Results of Monday’s Best S&P Futures Turning Points: Shorting 4261.50 only offered 7 points before stopping out. 

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

Buy 4181.75 stop 4177.50. Short 4305.00 stop 4309.00.

The World Index: (+100/-100) jumps from -57 to +21 with most major world markets mildly Bullish. 

Catalysts: Flash MFG & Services PMI @ 9:45. Richmond MFG Index @ 10:00. Treasury yields ease. MSFT & GOOG earnings after the close (applicable to Globex trading). 

Quick Tip: Small Winners

Trading has only four outcomes; big winners, small winners, small losers, and big losers. 

Allowing big losers is the kiss of death so keep what you’re risking small. Your small losers don’t need much analysis beyond stop loss optimization for varying market volatility. 

Your big winners are likely open managed or...

Results of Friday’s Best S&P Futures Turning Points: Buying 4228.50 filled in the Globex last night and stopped out. 

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

Buy 4181.75 stop 4177.50. Short 4261.50 stop 4267.25.

The World Index: (+100/-100) eases from -64 to -57 with all major world markets Bearish.

Catalysts: Nothing on the economic calendar. Treasuries hit 5%. Risk-off mood. 

Quick Tip: Cousin DOMO

Fear Of Missing Out, FOMO, is a negative emotional reaction traders have before they enter a trade. Price is gaining momentum and you’re on the sidelines. Impulsively, you break your entry rules and chase the trade. 

The problem with chasing is regardless of the outcome, win or lose, you lose psychologically. The wins only reinforce undisciplined trading. 

The best way to overcome FOMO is to have an abundance mindset. The markets...

Results of Thursday’s Best S&P Futures Turning Points: Buying 4385.75 filled in the Globex last night and ran for 18.50 points so far. 

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

Buy 4228.50 stop 4223.25. Short 4328.00 stop 4333.25. 

The World Index: (+100/-100) dips from -50 to -64 with all major world markets Bearish on increasing volatility. 

Catalysts: Fed’s Harker speaks @ 9:00. Middle East conflict escalating. Risk-off mood. 

Quick Tip: Ratio Exits

Our volume-at-price strategy usually performs better in the Globex session. We know this from thousands of documented trades. The challenge for most of us is we’re sleeping! 

Setting a planned entry before bedtime is no problem. Optimizing the exit is the tricky part. 

One common exit is the trailing stop using initial risk. The downside is price can get spiky...